Infographic created by Array Health, provider of private insurance exchange technology, released an infographic illustrating the impact health insurance exchanges (HIX) may have on the industry in the post-reform landscape. The infographic, titled “Health Insurance Exchange Basics,”seeks to better educate health plans and employers on what the new health insurance landscape may look like in next 5-10 years.
The infographic provides clear explanations of the differences between public and private exchanges, and the projected rates of adoption. The data compiled within the infographic references findings from notable research and consulting firms into one cohesive visual.
On October 1, the world of health insurance changed dramatically. The opening of state and federally-run health insurance marketplaces gives individuals not covered by an employer or government program and small employer groups a new place to shop. According to Accenture, of the 71 million Americans expected to buy health insurance through an exchange by 2018, 40 million are anticipated to be through private exchanges.
However, many consumers, health insurers and employers alike have yet to fully grasp how exchanges could change how millions of Americans buy insurance plans. Array Health’s infographic provides key insights to better understand how both public and private exchanges are shaping the new health insurance landscape.