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HealthcareWebSummit: Defined Contribution Health Exchanges

Similar to the retirement industry in the 1980’s, conditions in health care are ripe for a fundamental shift from an employer-centric defined benefit model to a consumer-centric defined contribution approach. Health care costs have become unsustainable, calling for the need of a short and long term cost control solution. A decade ago, defined contribution health plans were first discussed in the marketplace, but account based consumer driven health plans soon grabbed significant attention. While account based plans have become popular with many employers, economic conditions, health care reform, the market environment and other factors have combined to bring significant renewed attention to a defined contribution approach.

Health Insurance Exchanges (HIXs) as set forth under the Affordable Care Act continue to demand significant stakeholder attention as developmental activities evolve, complexities surface, and federal and state regulatory issues and guidance emerges. Private exchanges are also emerging in some marketplaces.

Now, some stakeholders are willing to place their bets on private exchanges despite the public exchange initiatives being advanced under the Affordable Care Act. Minneapolis based Bloom Health, was formed with this in mind in 2009, launched their first private exchanges earlier this year and have just had three major health plan organizations purchase a major stake in their company, including original partner Blue Cross Blue Shield of Michigan.

In a recently released statement "Health Care Service Corporation (HCSC), WellPoint, Inc. (NYSE: WLP), and Blue Cross Blue Shield of Michigan (BCBSM) announced a joint effort to offer a nationwide private exchange and defined contribution solution for employers to use in managing their health benefit offerings. The three independent health insurers have invested equal stakes in Minneapolis-based Bloom Health, giving them majority ownership of the company. This is the first investment in Bloom by HCSC and WellPoint, while BCBSM is increasing its existing stake in the company."

Blue Cross Blue Shield of Michigan and Bloom Health partnered in late 2010 to deliver a private exchange solution to their employers in the Michigan marketplace. Together they offer choice, flexibility, and affordability of private exchange insurance. Speakers Kevin Kickhaefer and Jeff Rubleski will examine how the Bloom/Glidepath Platform is able to adapt to the present and future needs of healthcare reform. Their presentation will also offer a demonstration of the platform and highlight key factors that drive the defined contribution model.

Participants will be able to:

Better understand what Defined Contribution is in the context of health plans and exchanges
Explore the macro economic factors that drive the Bloom/Glidepath model
Learn what the benefits of a private exchange are for stakeholders including employees, employers and shareholders
An overview of the Bloom/GlidePath solution
Explore the Bloom consumer experience through a overview of consumer decision support tool
Engage in interactive learning through online question submission, attendee feedback and opportunity for follow up questions, and networking with attendees, faculty and other professionals through dedicated LinkedIn group

Interested attendees would include:

C-Suite Executives
Health Plan Strategy and Innovation Executives
Brokers and Consultants
Human Resource Executives
Actuarial and Underwriting Executives
Sales and Marketing Executives and Staff
Marketing and Business Intelligence Staff
Health Plan Exchange Leaders and Staff

Attendees would represent organizations including:

Health Plans
Employers
Brokers and Benefit Consultants
Government Agencies
Solutions Providers
Media
Private Equity Firms
Associations and Co-ops
Other Interested Parties

Individual Registration Fee: $195. Web Summit CD-ROM: $40 for attendees; $285 for non-attendees after the event. Corporate Site licensing also available. Click here to register or call 209.577.4888 We look forward to your participation in this event!