Private exchanges are encouraging groups to buy more benefits. Their introduction helps employers control their administrative costs and offers more choices to employees. 

In addition to private employer plans, for Medicare-eligible retirees, the option between a traditional Medicare Plan B (AARP, for example) and the exchange, has allowed a larger a selection of benefits among the growing population of 65 and older. 

According to an article in Forbes, private exchanges are offering major employers such as Sears, Petco, and Walgreens the option to move to them. Some of these exchanges include Mercer, Aon Hewitt, and Towers Watson.

The management consulting firm, Acccenture, reported a prediction of 6 million people moving to the exchanges for 2015. 

They expect that number to grow every year as more options become available in the plans. Accenture forecasts a growing enrollment to 40 million by the year 2018.

Private Exchanges Offer More "Consumer Support Tools"

The larger the individual market pool, the better the option for long-term plans, according to Forbes. An improvement in the health care option for employees is the portability of their health insurance coverage, which contributes to the choices they can receive through exchanges. 

Employee and employer adoption of private exchanges from small businesses of fewer than 100 employees to mid-size of 2500 is a major driver in the private exchange market. Large healthcare consulting companies are busy advising the market on the various options of private exchanges as an attractive benefit when hiring new employees. Businesses that got on board early are publishing their findings and touting the satisfaction they are receiving by getting on board early. 

Control Costs and Offer Better Benefits

The financial and stock online adviser, Motley Fool, expects more and more businesses to move to them as their employees seek more options. It's a way to offer better benefits while controlling costs, according to the report.  

Employers also reported that by offering the option of the private exchange, it simplifies their paper work, reduces their costs and gives employees a better choice of health plans. These options as well as other benefits get wrapped in the worker's total compensation.  

If their growth continues as predicted, larger employers that are currently offering private plans could consider moving to exchanges, which would help them control the rising costs of their benefits and experiment with new types of coverage, according to the Forbes article.

They like the option that gives workers a set amount of money to use for their medical insurance as it shows them just how much the benefits costs, which helps in making their selections. Employers enjoy the benefit of workers focusing on what their employer is giving them to spend rather than on what their premiums cost.