Some industry research has suggested that private exchanges will transform themselves into a clogged eight-lane freeway teeming with traffic within the next few years from a lonely country road less traveled today. But a recent published report argues that some of the nation’s top employers are now adopting a cautious approach.

While various large private exchanges recruited blue-chip clients ranging from Sears to Walgreens in 2013, no major U.S. corporations followed suit last year, nor are they expected to do the same in 2016. The forecast is based on Reuters interviews with nearly a dozen industry executives who believe the Fortune 500 isn’t convinced that there’s enough compelling evidence of benefit cost savings to warrant the switch from traditional health insurance delivery.

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