While many private benefit exchange observers see the market slowing a bit, the Private Benefit Exchange Index saw a nice month-over-month increase. In addition, another major corporation, Starbucks, made the move to an online benefits marketplace.
Starbucks joins Darden Restaurants, Sears, Starwood Hotels & Resorts, Walgreen and others transitioning benefits distribution to online platforms. Indeed, organizations of all sizes continue to look to the exchanges. Just last month, 900 companies signed on with one of the operators included in the PBE Index. That resulted in 6,700 more employees enrolling through the portals and 16,500 more lives covered by their plans. Year-over-year, the number of employers using exchanges run by PBE Index operators has increased 142%, the number of employees enrolling in benefits through the marketplaces has risen 104% and the number of lives covered by the plans sold on the platforms has jumped 117%.
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