Almost three-quarters (72 per cent) of U.S. employers believe a major perk to private health insurance exchanges is giving employees more choice around their benefits, a Willis Towers Watson survey found.
The survey, which polled 467 U.S. employers representing 12.1 million employees, found one in six employer respondents are considering or have already introduced a private exchange, an online marketplace where employees can shop for health plans.
Read: U.S. employers consider corporate exchanges for health insurance
Among employee respondents, 95 per cent who use private exchanges appreciate being able to choose their benefits, and 90 per cent were satisfied with those choices a year later. Another 83 per cent of employee respondents are more aware of the costs of medical care, and are more engaged in their health-care decisions.
“At first, employers were curious to understand what [private exchanges] were all about,” said Craig Jannino, senior consultant, health and benefits at Willis Towers Watson. “But as more data has become available about how an exchange can modernize benefits to meet the needs of a more diverse workforce, create a more attractive benefit experience and improve outcomes for employees, interest has been growing in this more employee-centric model.”