In a recent interview with HealthLeaders, President Joe Donlan discusses some of the advantages for employers in launching a private exchange strategy. One of the biggest pros, as Joe points out, is the amount of time and money a company’s HR staff can save on benefits administration.
“First, a private exchange will help reduce HR’s benefit administration burden. Employers also have more predictability in terms of cost, as they determine a set amount to offer their employees to use toward their benefits through defined contributions. Also, many employees say that they like the personalized benefit solutions based on their own individual needs, behaviors and attitudes.”