The Collaborative offers a simplified and comprehensive approach to employers that want to continue to support their retirees but do not have the time or resources to administer the program themselves, according to a press release. By shifting management of their retiree medical program to the Collaborative, including plan design, communications, customer service and health education, employers are able to ease their administrative burdens and associated costs.
UnitedHealthcare and Towers Watson give employers flexibility in benefit design and financial commitment, while a customer service team provides a concierge service to help retirees select the best plan choice for their personal situation at enrollment and answer questions about their Medicare coverage. Depending on how an employer chooses to structure its retiree program offering through the Collaborative, retirees often see an increase in benefit coverage coupled with reduced plan premiums and/or out-of-pocket costs, the companies claim.
“The Retiree Health Collaborative will help employers preserve a valuable program for retirees and, in many cases, enhance their offerings,” said Joe Altman, chief actuary for employer retiree solutions at UnitedHealthcare, in the press release. “This program can help prevent employers from having to choose between fulfilling their retiree health care obligations and focusing on their bottom line.”The Retiree Health Collaborative is currently available to employers with 500 or more retired plan participants. According to the announcement, the Collaborative will continue to evolve with the market, incorporating new products for both pre-Medicare and Medicare retirees, and providing additional options for employers and their retirees.