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| [November 29, 2012] |
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Mercer Will Offer Clients Access to New Connextions Multicarrier Insurance Exchange to Help Them Manage Retiree Health Care Benefits
NEW YORK & ORLANDO, Fla. --(Business Wire)--
Mercer,
a global consulting leader in talent, health, retirement and
investments, along with Connextions, Inc., an innovative technology and
business services partner to the health care industry, today launched
myCustomHealth™, a new national Medicare retirement exchange to help
employers minimize administrative burdens and cost, while offering
retirees a broader choice of benefit options.
myCustomHealthTM relieves employers of the administrative
burden associated with managing retiree insurance issues and annual plan
review and renewal by providing a solution that integrates retiree
medical insurance, including pharmacy, dental, vision and other benefit
options, with wellness and other related services. The exchange features
the industry's only fully integrated Retiree Reimbursement Account,
offered by Connextions' parent company Optum, and the only default plan
option, which will provide coverage for retirees who do not actively
select a plan.
In addition, myCustomHealthTM delivers a positive enrollment
experience for seniors through the largest call center of its kind that
is staffed with "retiree-centric" advisers. Call center representatives
serve customers continuously, from during their enrollment process to
answering their questions throughout their coverage period to advocacy
with their selected health insurance carrier when needed.
"US employers are struggling under the burden of ever-increasing retiree
medical insurance costs. They're looking for a mechanism that allows
them to offer coverage in a way that carefully manages their financial
obligations while offering retirees affordable options based on
individual needs," said Julio A. Portalatin, President and CEO of
Mercer. "A market shift is taking place that employers need to explore."
According to Mercer's National Survey of Employer-Sponsored Health
Plans, the prevalence of medical plans for Medicare-eligible retirees
continues to decline. However, among very large employers, roughly
one-third still provide coverage to retirees 65 and older.
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"Some large employers want to continue providing medical and other
benefits to their Medicare-eligible retirees, but prefer to provide the
retiree with a choice of benefit options and give them a subsidy to help
pay for individual insurance coverage. Providing benefits through an
exchange helps an employer ease the transition for their retirees and
guides them through the insurance selection process," said Sharon
Cunninghis, US leader of Mercer's health and benefits business. "The
Connextions exchange will empower retirees with more benefit choices and
personal assistance in choosing their benefits, while allowing employers
to better manage costs and future liabilities."
The exchange builds on Connextions' experience serving retirees. Since
1999, Connextions has enrolled more than 1 million people into Medicare
plans.
"myCustomHealthTM is a valuable tool for employers because it
was designed top to bottom with the retiree in mind. It focuses on
helping all retirees choose the plan that best fits their needs and
giving them access to ongoing health and wellness solutions," said Rob
Panepinto, managing director of Connextions' exchange solutions
division. "Connextions' experience, track record and enterprise-size
contact center capabilities make myCustomHealthTM unique in
the marketplace, as do the extensive health and financial services that
come from being part of the Optum family of companies."
About Mercer
Mercer is a global consulting leader in talent, health, retirement and
investments. Mercer helps clients around the world advance the health,
wealth and performance of their most vital asset - their people.
Mercer's 20,000 employees are based in more than 40 countries. Mercer is
a wholly owned subsidiary of Marsh
& McLennan Companies (NYSE:MMC), a global team of professional
services companies offering clients advice and solutions in the areas of
risk, strategy and human capital. With 52,000 employees worldwide and
annual revenue exceeding $10 billion, Marsh & McLennan Companies is also
the parent company of Marsh,
a global leader in insurance broking and risk management; Guy
Carpenter, a global leader in providing risk and reinsurance
intermediary services; and Oliver
Wyman, a global leader in management consulting. For more
information, visit www.mercer.com.
Follow Mercer on Twitter (News - Alert) @MercerInsights.
About Connextions
Connextions, a pre-eminent technology and business services partner to
the health care industry, helps carriers, providers, employers and other
leading firms maximize revenue and increase efficiencies by optimizing
customer experience. Powered by its proprietary bConnected technology
and nearly 7,000 employees, Connextions drives more than $4 billion in
acquisition, retention and services for the nation's top carriers and
Exchange hosts.
Connextions is part of the Optum family of companies. For more
information, visit www.Connextions.com.
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