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affordable care act

Benefits of a Private Exchange in the Affordable Care Act era

Ryan Smolek, Vice President of Operations, Exchange Business Unit

Ryan Smolek, Vice President of Operations, Exchange Business Unit

Private exchanges benefit both employers and their employees, so it’s no surprise that over the past few years, they have experienced great success under the Affordable Care Act.

So far, nearly 6 million people have enrolled in health insurance through a private exchange. This number is expected to double next year, and by 2018, it’s estimated there will be 40 million Americans enrolled in coverage through a private exchange.

In order to participate in this growing alternative, GoHealth has partnered with ADP to create the ADP Private Exchange. This exchange gives employers the tools to help their part-time, temporary, and contract employees who are not otherwise eligible for employer-sponsored coverage to enroll in health insurance and access tax subsidy estimates that could lower their monthly premiums.

Here are just a few ways the ADP Private Exchange can benefit both employers and their employees.


Burdens lifted for employers

When the Cadillac tax – an excise tax on high-cost health plans – goes into effect in 2018, it’s expected to affect as many as 38 percent of large employers and 17 percent of all American businesses, according to the American Health Policy Institute. The ADP Private Exchange would enable employers to potentially avoid the Cadillac tax, while still offering their employees a way to obtain affordable coverage.

In addition to achieving significant cost-savings, choosing a private exchange means employers must no longer bear the burden of administering health benefits to their employees. The ADP Private Exchange is an efficient, simple way for employees to independently access affordable health care coverage for themselves and their families.

More options for employees

Private exchanges are all about choice. The new GoHealth private exchange offers employees a wide range of plans from over 300 top insurance carriers, including plans available on the federal and state exchanges. Employees can compare plans and rates side by side to ensure they find the right coverage for their needs.

Enrolling through the GoHealth private exchange also means eligible individuals have access to tax subsidies to reduce their monthly premiums. Tax subsidies are only offered on Marketplace plans for anyone making between 100 percent and 400 percent of the federal poverty level. The GoHealth private exchange tools can estimate the individual’s tax subsidy and apply it directly to their chosen plan.

Expert help and support – for free

Finding the right health insurance plan can be confusing, even for the most seasoned health care professional. But with our licensed insurance agents standing by, employees who are otherwise ineligible for employer-provided coverage enrolling through the ADP Private Exchange can get customized plan recommendations, enrollment assistance, and answers to health-related questions at any time over the phone. No matter what, this service is always free.

Simplified, affordable option for all

Thanks to private exchanges, employers can now deliver quality health care at affordable prices to their employees who are otherwise ineligible for employer-provided coverage. With the ADP Private Exchange, many employers can invest in their employees’ health without the added responsibility and financial burdens.

At GoHealth, we have helped more than 30 million Americans find the right health insurance coverage. And now as part of our partnership with ADP, we’re excited to help even more people find their perfect plan and take advantage of this growing health insurance option.

Ryan Smolek leads the 200+ person Exchange business unit at GoHealth. He manages the company’s consumer-facing health insurance marketplace as well as the private exchanges GoHealth operates for strategic partners, with oversight of platform services, product management and operations.  Smolek has built strategic relationships with a number of private exchange partners and insurance carriers, positioning GoHealth as the largest private consumer platform for individual health insurance.  Prior to GoHealth, Smolek worked at MillerCoors where he held various operational and strategic roles including leading the acquisition of the Crispin Cider Company. He holds a Bachelor’s degree in Information Systems from University of Notre Dame and a MBA from the University of Chicago Booth School of Business.

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