According to the announcement, these solutions are expected to help employers manage costs and provide advice on how to transition retirees to a private health care exchange that offers more individual Medicare plan choices.
The alliance comes at a time when many employers are rethinking their retirement health care programs; the Sixth Annual Towers Watson/ISCEBS Retiree Health Survey found that 60% of employers currently offering retiree medical plans are rethinking their programs for 2012 or 2013.
“Rising costs, health care reform requirements and talent management goals have made providing retiree medical benefits a challenge for employers,” said Dave Osterndorf, chief health care actuary at Towers Watson, in the announcement. “Towers Watson and Extend Health can help employers with an effective solution that meets the needs of both employers and retirees right now.”
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