“The most startling metamorphosis over the last few years is the fast-paced transformation of health insurance into a true retail industry.” PwC Chairman Bob Moritz made that observation in a
In a recent article for The Washington Post, reporter Jason Milliman asks: “Can technology pick the perfect health plan for you?” At Array Health, we believe the answer is a
Accenture’s recent report "Growing Pains for Private Health Insurance Exchanges” raises several strong points about the challenges of delivering on the promises of private health insurance exchanges. We couldn't agree
Employers who sponsor self-funded group health plans (as well as fully-insured employers who want to proactively comply with non-discrimination requirements) and are moving from defined benefit (DB) to defined contribution (DC) funding arrangements need to decide and define how they allocate funds for employees to use. DC funding arrangements allow an employer to completely define their maximum annual spend for health benefits prior to open enrollment.
We occasionally get questions from brokers and employers about how they should setup their defined contribution funding arrangements. In a future post we'll share some of the general guidance that brokers can share with their clients. However, in this post we'll take a more technical approach, looking first at the regulations that apply to employers moving to a full defined contribution funding arrangement.
“Easy.” We often hear from our customers that MyBenefits – a private health insurance exchange software platform built by Array Health – is “easy to navigate” and “easy to use.” From a client services standpoint, this is music to our ears. Health insurance is complicated. We want our customers to feel confident throughout their shopping experience on MyBenefits and we want them to feel comfortable returning to the site at any time to access their insurance information.
The key to making a private exchange work on an ongoing basis after launch is communication. While this statement may seem obvious, in my experience in an account management role with Array's clients, I have found the need to continuously reiterate the importance of communication.
If anyone asks me what I do at Array, my answer is that I’m a “connector of the dots”. My role is to work with our health plan clients to understand their needs, look for synergistic alignments with Array’s strategy, and collaborate on a daily basis.