About 6 million members enrolled in their benefits on a private health insurance exchange for the 2015 plan year, continuing an adoption trend with more than 100 percent annual growth since 2013. The mid-size employer segment of 100 to 2,500 employees is driving initial growth, which is projected to double again in 2016 to 12 million employees (source: Accenture analysis). The promise of choice, cost savings and customer experience dominate the trend-lines on private exchanges but innovation really holds the key to sustained adoption and growth.

Fidelity Investments® today announced the launch of Fidelity Health MarketplaceSM, which offers one-stop access to integrated health, wellness and financial benefits to small and midsized businesses and their employees (source: Fidelity press release). Fidelity Health Marketplace offers employers the ability to choose from an extensive network of national and regional medical, dental, vision, and life benefits in addition to tax-savings options and access to wellness tools and programs. The Marketplace uses hCentive’s WebInsure™ Benefits private exchange technology platform, which offers an integrated enrollment experience and pre-configured connections to a network of insurance carriers and a range of health and other ancillary benefits.

Integrating financial solutions with health and wellness offerings through a private exchange delivers a real “health & wealth” proposition. More importantly, it exemplifies continuous product innovation and expansion with both insurance and non-insurance products to meet the unique and specific needs of employers and employees. For example, hCentive recently added a socially responsible credit program that offers low-cost employee loans with 0% financing. Previously, employees would not have had access to such a program with payroll deductions, but our private exchange solution easily allows them to bundle the product if they need to manage high or sudden medical costs.

Innovation, coupled with digital footprint, branded storefront and sophisticated decision support tools for employees will bolster brokerages and financial services firms’ ability to differentiate from established competitors and emerging tech upstarts; provide employees with intuitive user interface and experience to shop, select and enroll in benefits; and, simplify and standardize onboarding of carriers and benefits products. That is what will really drive demand for private exchange solutions from employers in 2016 and beyond. Tell us what you think.

Experience the new Fidelity Health Marketplace at

Learn about hCentive’s WebInsure Benefits platform at Contact us to see what hCentive can do for you!

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