Private health insurance exchanges: Fueling the "consumerization" of employersponsored health insurance

Health insurance in the U.S. is at the cusp of a major transition from an employer-driven payor model to a model directly involving many more employees and consumers. Private health insurance exchanges with a defined contribution approach represent a significant step toward catalyzing this change. In this paper — part of an ongoing series of Strategy& perspectives on the shift to consumerism in health insurance — we consider the impact of this change on the payor industry and the strategic approach that leading companies need to take.