Through a process of pre-screening existing retiree health exchanges and establishing new minimum vendor requirements, Segal has pre-qualified three private exchange vendors that have agreed to meet certain minimum requirements. These include at least three years of operational experience, using only U.S.-based employees to service clients’ accounts and agreement with minimum performance standards.
For the active employee market, Segal has no pre-vetted arrangements with any private exchange service providers. “Segal’s role as independent advisers will continue. We have established non-exclusive relationships with these vendors and they have agreed to meet our minimum requirements. This initiative represents a step in the evolution of retiree health care consulting as we continue to tailor employer-sponsored health plan solutions to the needs of the plan sponsors and their retirees,” says Joseph A. LoCicero, president and CEO of The Segal Group.
“The retiree health plan market is undergoing substantial change and in order to keep pace with this rapidly changing environment, we are adding solutions for our clients. Customized solutions will still be the preferred approach for many large group retiree health plan sponsors and we are prepared to serve clients that prefer this route. Others are beginning to explore the feasibility of moving to a retiree health exchange concept. We took this step to help expedite the vetting process for those clients preferring to implement a retiree health exchange with uniform standards in the areas of service and stability,” says Edward A. Kaplan, a senior vice president and national health practice leader at The Segal Group.
More about The Segal Group is at www.segalgroup.net.