Buck Consultants is the latest benefit and consulting firm to form a private exchange. The move aims to reduce employer uncertainty about 2014 by reducing costs and increasing employee health care options. The exchange, called RightOpt, will be available for fall 2013 enrollment in conjunction with the open enrollment time period for public exchanges. Buck’s exchange is an option for employers with 3,000 employees or more and allows for self-funded or fully employer-funded plans.
“We’re trying to drive costs out of the health care delivery system and that seems to resonate with all employers. Employers don’t seem to want to fully exit,” says Sherri Bockhorst, principal and leader, Buck Health Exchange Solutions. She adds that the company’s main goals are decreasing health care costs and increasing worker productivity.
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