Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Bates & Company, Inc.
|
AimPoint Pension
|
Compass
|
Regional Vice President of Sales The Retirement Plan Company
|
Loan & Distribution Specialist AimPoint Pension
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Private Exchanges Leading to Both a 'Buy-Down' and a 'Buy-Up' Effect
The Institute for HealthCare Consumerism [IHCC] Aug. 25, 2015
"One interesting result of the advent of private exchange technology combined with a defined contribution is that when individuals are given [1] money to spend on benefit purchases and [2] a shopping experience that they can navigate, they behave like consumers. In this environment, they typically purchase less medical coverage (sometimes called the 'buy-down' effect), leaving money available to purchase other benefit options (the 'buy-up' of voluntary benefits).... As a result of this change in buying habits ... the Willis Private Exchange experience has demonstrated savings of almost $700 per employee per year."
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |