Thursday, November 7, 2013

BB&T creates private insurance exchanges

While the travails of the federal government's public health insurance exchange have garnered all the headlines, insurance companies' private exchanges have grown rapidly in popularity. BB&T said Thursday that it has jumped into that fray.

The Winston-Salem bank said it has in fact launched two private insurance exchanges that let employees choose health, dental, vision, life and disability coverage.

The platform has grown more popular as the Affordable Care Act has gone into effect. A number of large companies have shifted their workers to private exchanges and provided a fixed amount of money to help cover their premiums.

Consulting firm Accenture says one in five employees in the U.S. could get their insurance through a private exchange in the next four years.

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