Six million people in the US opted to enrol in private health insurance exchanges this year, up from 3 million in 2014.
A new report by Accenture shows that midsize employers, defined as companies with 100 to 2,500 employees, contributed most to the adoption of private health exchanges increase.
Accenture forecasts that enrollment in private health insurance exchanges will grow to 12 million in 2016 and 22 million in 2017. It expects total enrolment in private exchanges to ultimately surpass state and federally funded exchanges, reaching 40 million by 2018.
“We remain optimistic that several factors will catalyze enrollment growth in private health insurance exchanges through 2018, said Rich Birhanzel, managing director for Accenture Health Administration Services. “This is especially true as the market matures, employers gain more control of benefit design and evidence continues mounting on the tangible benefits of the model.”
Another factor seen driving market maturity and scability is growing market funding and investments by exchange sponsors in private exchange technology solutions. Thus, Accenture said the number of large employers who have been on the fence in determining whether to adopt private health insurance exchanges is expected to drop over the next two years.
Date: April 14, 2015