Mercer Launches Medicare Retirement Exchange
November 29, 2012 (PLANSPONSOR.com) – Mercer and Connextions Inc.
launched myCustomHealth, a national Medicare retirement exchange.
The exchange aims to help minimize employersf administrative burdens
with managing retiree insurance issues and annual plan review and renewal,
while offering retirees a more benefit options. It also integrates retiree
medical insurance, including pharmacy, dental, vision and other benefit
options, with wellness and other related services.
The solution features a Retiree Reimbursement Account, offered by
Connextionsf parent company Optum, and a default plan option, which will
provide coverage for retirees who do not actively select a plan. In
addition, myCustomHealth has a call center staffed with representatives to
serve customers during their enrollment process and answer questions
throughout coverage periods.
According to Mercerfs National Survey of Employer-Sponsored Health
Plans (see gEmployers Hold Back Health Benefit Costsh), the
prevalence of medical plans for Medicare-eligible retirees continues to
decline. However, among large-size employers, roughly one-third still
provide coverage to retirees 65 and older.
gSome 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,h said Sharon Cunninghis, U.S.
leader of Mercerfs health and benefits business. gProviding benefits
through an exchange helps an employer ease the transition for their
retirees and guides them through the insurance selection process. 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.h
For more information, visit www.mercer.com.
Kristen Heinzinger
editors@plansponsor.com
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