TITLE of presentation · insured •Self Insured Medical (Group or Individual) Medicare Retiree...

Channel Management: Are you ready for

the surge in online marketplaces and

private exchanges?

Jeff Yaniga

September 16th, 3PM

Overview

• High Level Overview of Private Exchange

Elements

• Helping Exchanges Help Dental Plans

• What Exchange Operators Want

Fred and Cheryl Yaniga: Benefits Consumers

Henry Yaniga: Tomorrow’s Benefit Consumer

My why

Seven Key Exchange Elements

Elective Benefit Exchanges

• Aon Hewitt in the News

• SunLife in the News

Element #1

• Credibility

Credibility

• The stakeholders need to believe the exchange is going to work

• Evidence of past success• Revenue

• Breadth of client base

• Number of enrollments/members using tech today

Element #2

• Easy to see return on investment model

ROI: Beneficiary

ROI: Employer

ROI: Exchange Operator

Element #3

• Meaningful product choice

The paradox

Wise about choice

Survey

How much choice would you want?

Source: Connecture 2013 Consumer Survey

Fully stocked product store

• Medical

• Dental

• Elective Benefits

• Why additional benefit products matter to sellers

Meaningful choice and flexibility of choice for brokers

Element #4• Post Enrollment Services Suite

None, some, or all

• Call center support

• Benefits administration

• Wellness

• HSA/FSA

• Transparency tools

Element #5• Serve all beneficiary types

Serve all beneficiary types

• Individual non-subsidized

• Federally Facilitated Marketplace (FFM)

Early RetireeActive Employees

• Group• 25-2,000+• Fully

insured• Self

Insured

Medical(Group or Individual)

MedicareRetiree

• Medigap• MAPD• Part D

Segment

AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine

Part-timers/Seasonal

• Group• Group

supplemental plan

• Individual non-subsidized

• FFM

HSA FSA HRAFunding

Serve all beneficiary types

• Individual non-subsidized

• Federally Facilitated Marketplace (FFM)

Early RetireeActive Employees

• Group• 25-2,000+• Fully

insured• Self

Insured

Medical(Group or Individual)

MedicareRetiree

• Medigap• MAPD• Part D

Segment

AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine

Part-timers/Seasonal

• Group• Group

supplemental plan

• Individual non-subsidized

• FFM

Early RetireeMedicareRetiree

Serve all beneficiary types

• Individual non-subsidized

• Federally Facilitated Marketplace (FFM)

Early RetireeActive Employees

• Group• 25-2,000+• Fully

insured• Self

Insured

Medical(Group or Individual)

MedicareRetiree

• Medigap• MAPD• Part D

Segment

AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine

Part-timers/Seasonal

• Group• Group

supplemental plan

• Individual non-subsidized

• FFM

HSA FSA HRAFunding

Part Timers/Seasonal

Serve all beneficiary types

• Individual non-subsidized

• Federally Facilitated Marketplace (FFM)

Early RetireeActive Employees

• Group• 25-2,000+• Fully

insured• Self

Insured

Medical(Group or Individual)

MedicareRetiree

• Medigap• MAPD• Part D

Segment

AncillaryCritical Illness Disability Life AD&D STD LTD Dental Vision Tele-Medicine

Part-timers/Seasonal

• Group• Group

supplemental plan

• Individual non-subsidized

• FFM

HSA FSA HRAFunding

ActiveEmployees

Element #6• Great software user experience

Great software user experience

Source: “Why Healthcare.gov stumps ‘highly educated’ Millennial” – Karen Kaplan, Los Angeles Times 7/8/2014

Great software user experience

Great software user experience

Great software user experience

Great software user experience

Element #7• Decision support tools for all participants

Decision support tools: Stakeholders

Decision support

Decision support

Decision support

Employee decision support

7 building blocks summary

1. Credibility

2. Easy to see return on investment model

3. Meaningful product choice

4. Simplified post-enrollment services suite

5. Serve all beneficiary types

6. Great software user experience

7. Decision support tools for all participants

Megatrends

Megatrends

160%Health insurance

premiums have

increased

over 12 years, far

surpassing inflation.

Megatrends

Megatrends

40 million private exchange enrollees forecasted by 2018

Megatrends that may change it all

Cost ≠ Quality to alignment

Why private exchanges matter

Megatrends

Exchanges will evolve as consumer

benefits literacy evolves

Ezekiel Emanuel

Megatrends respondents

• All other things equal, people do business with people and brands they know, like and trust

• Megatrend respondents are investing in:– Expert positioning (ask us)

– Relationships (likeable user experiences)

– Getting local

• Megatrend respondents are evolving– Can’t beat ‘em, join em. Delivery plus risk assessment

– Health delivery system is in it’s infancy

Immutable facts?

Megatrend respondents

• Megatrend respondents are evolving– Can’t beat ‘em, join em

– Efficient delivery + actuarial capacity + analytics + acumen

– Build, buy or partner

• Megatrend respondents are transforming– Turn themselves into integrated delivery systems

• Regardless, technology and consumers WILL participate

Immutable facts?

Helping Exchanges Help Dental

Plans

Considerations for Getting Products on Product

Store:

- Potential Avenues

- Product Structure

- Key Contacts at Exchanges

What Exchange Operators Want

• Products that can be sold consultatively

• Products that sellers want

• Products that drive high beneficiary

satisfaction

• Products that can be purchased easily

Megatrends that may change it all

The time is now. Benefits delivery is in it’s infancy.

Q and A

Thank You!

Jeff Yaniga

VP, Exchanges

Connecture

jyaniga@connecture.com