Market leaders team up to help employers manage costs and improve Medicare-eligible retiree health benefits
NEW YORK--(BUSINESS WIRE)-- Willis North America’s Human Capital Practice, a unit of Willis Group Holdings Ltd. (NYSE: WSH), and Extend Health, Inc., operator of the largest private Medicare exchange in the country, announced today a partnership that will help employers transition their Medicare-eligible retirees to the private Medicare plan market using a health insurance exchange, enabling improved retiree health benefits while managing costs.
The Extend Health industry-leading exchange provides a robust technology platform, advanced decision support tools and licensed benefit advisors to provide clear and concise guidance and support, making it easy for retirees to select the private Medicare coverage that suits their needs.
“America’s population is aging and health care costs continue to rise, putting retiree health care benefits near the top of a list of concerns for most employers in both private and public sector organizations,” said Mike Barton, Chairman, Willis North America Human Capital Practice. “For Medicare-eligible retirees, defined contribution plans backed by a private health insurance exchange can achieve employers’ goals while giving their retirees more choice and increased buying power.”
Willis’ Human Capital Practice provides innovative solutions to help organizations manage their human capital investment beyond employee benefits. By augmenting traditional employer focused solutions with consumer-based tools, resources and content promoting the health and wellbeing of member populations, the firm favorably impacts claims costs, productivity measures and employee turnover.
Over seven years, Extend Health has built the largest private Medicare exchange in the country. More employers have used Extend Health than any other company to transition their retirees to a private Medicare exchange. Extend Health also is the only company that has helped more than 350,000 retirees use an exchange to select from more than 3,500 private Medicare plans from more than 70 national and regional insurance companies.
“Willis is a recognized leader in driving business results in the domain of employee and retiree benefits for corporations, the public sector and non-profits,” said Bryce Williams, CEO of Extend Health. “This partnership is a unique opportunity to bring employers the advantages of a powerful and proven private exchange combined with expert guidance from Willis.”
Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at http://www.willis.com.
About Extend Health
Extend Health, Inc., founded in 2004, operates the largest private Medicare exchange in the country. For more information, visit Extend Health on the web at http://www.extendhealth.com.
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS: Seniors Health Other Health Professional Services Insurance Consumer Managed Care