The Private Benefit Exchange Index is little changed from last month.
To date, 37,800 employers have moved workers to an exchange, 2.8 million employees have signed up for benefits through one of the online marketplaces, and 5.6 million people are covered by benefit plans sold through the sites.
Since June 2015, when the PBE Index was launched, the number of employers using exchanges has increased 144%, the number of employees enrolling in benefits through the marketplaces has risen 92% and the number of lives covered by the plans sold on the platforms has jumped 100%.
Also see: “Biggest people moves of 2016.”
With many organizations currently conducting open enrollment, the numbers are expected to rise come January.
Employee Benefit News and Employee Benefit Adviser will continue to track the month-over-month growth in the online benefit marketplaces.
To create the PBE Index, EBA and EBN collect data from eight leading exchange operators on the number of employers using each platform, the number of employees enrolled in benefits through each platform and the number of lives covered by the policies sold through each platform. Every month, the editors aggregate and update the operators’ numbers.
The eight exchanges selected by the editors to participate in the PBE Index are a representative cross-section of the operator market and include benefitsCONNECT, bswift, Connecture, Frenkel Benefits, Lockton, Marcum, Medica and Softheon. The information provided by these brokers, insurers and technology-platform companies is self-reported and rounded.
For more information on the PBE Index, to access a directory of private benefit exchange operators, and to see the latest PBE news, go to employeebenefitadviser.com/exchanges.
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