According to a Hewitt announcement, the company has partnered with HighRoads to create a flexible and competitively priced platform for selecting and managing health and welfare plan vendors. HighRoads’ solution enables Hewitt’s consultants to execute competitive bids and renewals for select benefit plans and tap into best practices, providing mid-sized companies with more cost-effective health care solutions.
Hewitt’s clients can also gain added efficiencies, as plans are automatically available for subsequent year renewals and procurements, and vendor performance is tracked online in a consistent and comparable format, the announcement said.
Hewitt also announced it recently launched the Hewitt Pharmacy Purchasing Group, a coalition that allows mid-size companies to obtain pharmacy program pricing typically reserved for Fortune 50 employers. The Hewitt Pharmacy Purchasing Group offers transparent pricing, gives companies complete flexibility to customize their benefit plan design, and includes a comprehensive suite of pharmacy consulting services. Hewitt has named CVS Caremark as its first preferred vendor for this arrangement.
Hewitt is also offering a variety of other solutions and services that cater to mid-size companies, including benchmarking and data analysis capabilities, legal compliance services, vendor performance measurement, and patient advocacy services.
The firm pointed out in its announcement that its new health and welfare benefits administration offer – Core Benefit – is gaining traction. “We’re seeing great momentum in this increasingly important market, and our clients — both current and prospective — are quickly realizing the value of the flexibility, scalability, and speed-to-implementation that our new Core Benefit Administration platform provides. In addition, they are taking advantage of our world-class benefits consulting expertise and comprehensive benchmarking data, which provide them with a level of expertise that no other firm in the industry can match,” Jay Rising, president of Hewitt’s HR outsourcing business, said in the announcement.
More information is at www.hewitt.com .