The exchanges, which employers utilize to provide health and benefits for active and retired employees, have expanded to a diverse range of businesses and have proven successful with employers that are geographically dispersed and demographically diverse.
Aon's exchanges create an online shopping experience where employees and retirees receive an employer-funded credit that is used towards the purchase of a health plan and other benefits. Employers using the exchanges provide beneficiaries with increased plan choice while simplifying human resources benefit administration.
Aon Retiree Health Exchange Medicare membership has grown nearly an average of 10% since 2016 and is now used by more than 140 employers across the
'The Aon Retiree Health Exchange offers a simple, trusted way for employers to guide retirees through the individual Medicare marketplace with expert one-on-one guidance and support,' said
For active employees, the Aon Active Health Exchange now tops one million members from more than 40 large employers. Employers using the exchange have seen a 2.7 percent per employee compound annual growth rate in health care spending over the last five years, which is about half of the 5 percent growth rate predicted for
The active exchange also has achieved a 90 percent employee satisfaction score by creating a consumer-centric health coverage market that offers a menu of plans from multiple national and regional insurance carriers that all compete for members. This structure gives employers unprecedented cost control while empowering employees with a broad choice of health coverage options. In addition to employer savings, employees who used Aon's proprietary tool to enroll in top ranked plans saved an average of
The active exchange also offers health plans that allow access to the top 100 hospitals in nation, while more than a third of members are enrolled in high performing networks, which include 7,500
The active exchange will become more attractive to employers after the recent repeal of the federal Health Insurance Tax starting in 2021, which will save fully-insured clients and their employees 2.5 percent to 3 percent on premiums, according to Aon experts.
'Our pipeline of potential customers has increased since last year and we expect growth in membership to continue,' said
Aon was one of the first companies to build private health insurance exchanges with multiple carriers for large employers in 2010. After nearly a decade, Aon hosts one of the largest private insurance exchanges as clients continue to benefit from the model.
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