Avoiding Double Jeopardy. (with apologies to Jeopardy and Alex Trebek) EBA Summit September 23, 2013

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1 Avoiding Double Jeopardy (with apologies to Jeopardy and Alex Trebek) EBA Summit September 23, 2013

2 Challenges for Benefit Brokers Private Exchanges are big business Evolving rapidly It s messy and complex You and your clients can face negative consequences Don t put your head in the sand Face the changes.and AVOID DOUBLE JEOPARDY! A Cause for Jeopardy New Solutions

3 Let s Play Private Exchange Jeopardy!

4 Welcome and Introductions Avoiding Double Jeopardy (or thriving in the world of Private Exchanges) Emcee: Rhonda Marcucci, Partner, Consultant, Gruppo Marcucci Meet the Contestants: J. Scott Wayne, Vice President, Sales Effectiveness and Consultant Relations Consortium Health Plans, Inc. Tony Hernandez, Chief Information Officer, Gallagher Benefit Services, Inc. Dayne Williams, Chief Executive Officer, PlanSource

5 Our Jeopardy Categories for Today #1 #2 #3 #4 #5 I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter

6 I Signed What? for $100 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

7 The Answer for $100 is Financial Liability

8 What can happen if you fail to understand the contractual relationships among all parties to an exchange?

9 Let s Go Shopping for $100 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

10 The Answer for $100 is Talking to a live person about benefit choices

11 What employees want regardless of how sophisticated the shopping technology?

12 It s the $$$ Stupid for $100 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

13 The Answer for $100 is Defined Contribution

14 What is often mistakenly viewed as a longterm strategy for controlling healthcare costs?

15 Private Exchanges 101 for $100 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

16 The Answer for $100 is William Blair Oliver Wyman Booz Allen

17 Who are the leading analysts/consultants covering the private exchange market?

18 Your Bread n Butter for $100 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

19 The Answer for $100 is Positive enrollment Wellness program participation A 2-yr. commitment

20 What are common requirements for employers to participate in private exchanges?

21 Private Exchanges 101 for $200 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

22 The Answer for $200 is Individual vs. Group Pre-65 vs. Post 65 Group-sponsored (employer) vs. Directto-consumer (ehealth) Private vs. Public

23 What is the best way to categorize exchanges in the marketplace?

24 I Signed What? for $200 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

25 The Answer for $200 is A clean financial audit SSAE16 Cyber and Tech E&O

26 What are key risk minimizers you want your technology provider to have in place?

27 It s the $$$ Stupid for $300 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

28 The Answer for $300 is A wide variety of choice which allows people to buy more appropriate coverage

29 What exchanges provide that may help reduce the employer s cost?

30 Private Exchanges 101 for $400 Private Exchange Jeopardy I Signed Up for What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

31 The Answer for $400 is Bring-your-own plan vs. pre-packaged plans

32 What is the key difference between benefit admin and private exchanges?

33 It s the $$$ Stupid for $400 Private Exchange Jeopardy I Signed Up for What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

34 The Answer for $400 is 1. Single consolidated bill 2. Facilitate premium collection from employees

35 What are two administrative capabilities of a private exchange that employers desire?

36 Private Exchanges 101 for $500 Private Exchange Jeopardy I Signed What? Let s Go Shopping Private Exchanges 101 It s the $$$ Stupid Your Bread n Butter $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500

37 The Answer for $500 is Carrier s willingness to participate in exchanges

38 What is the driver for available products within exchanges today?

39 It s time to play

40 The Final Jeopardy Answer is The Wild West

41 Your Answer Please What is the Emmy award-winning TV show starring Robert Conrad?

42 Your Answer Please What is the name of the hot new bar in Lubbock, Texas?

43 Your Answer Please What is the current state of the private exchange marketplace.

44 Everyone s a Winner! Everyone s a winner when advisors understand Private Exchanges and avoid jeopardy for their clients.

45 Thank you for playing