Today’s post comes from my colleague, Steve Tomac. Steve is part of Lockton’s Exchange Solutions Practice, and he recently attended the Private Healthcare Exchanges Conference. Here is his recap:
Last month, I attended Employee Benefit News’ annual Private Healthcare Exchanges Conference in Chicago, sponsored by SourceMedia.
As is the case with most private HIX conferences, the cast of attendees – more than 350 brokers, carriers and technology providers – was familiar and friendly. Insurance associates aren’t boring at all! We’re smart too, or at least I like to think so.
For me, the trick to getting the most from these conferences is to know going into them that I will always learn something new. This conference did not disappoint. In addition to hundreds of attendees, the conference featured 40 speakers over two days. That’s a lot of information! I’m happy to report I gleaned several nuggets related to new technology approaches and new private exchange experiences shared by employers.
But my biggest take-away is one with which I was already familiar: A lot of giants in other industries that stood still found themselves getting trumped by new players in their space.
Another take-away … Much like opening your eyes to a new idea, private exchanges don’t have to be that mysterious. As one speaker pointed out at the conference: “Private health exchanges are not a big deal, just another way to deliver benefits.”
The more I think about that, the more I tend to agree, and that actually makes me both excited and a bit calmer when I am asked, “What really is a private exchange?”
Finally, a reoccurring message shared by employers at the conference (and it seems I hear this all of the time) is that employee benefits communication and education are key to the success of their private exchange implementation and continue to be vital to the ongoing success of their overall benefit strategy.
Next up on the conference schedule is the Private Exchange FORUM September 1-2 in Baltimore.
My colleague, Mike Smith, Lockton Benefit Group Director of Exchange Solutions, is a featured panelist at the conference’s opening general session, entitled “Private Exchanges: What’s Working, What’s Not and What Lies Ahead.”
Look for a recap of his session and others next month. Until then … enjoy the last few weeks of summer!