The FINANCIAL -- Mercer
has signed up 52 employers to offer a comprehensive range of benefits
through Mercer’s private exchanges for the 2014 plan year, according to Mercer.
These employers include Petco and Kinder Morgan. Mercer anticipates that the exchanges will cover 200,000 employees, retirees, and family members next year. The 52 employers range in size from 100 to 30,000 employees and represent more than 15 industries.
“We’re delighted that Petco and Kinder Morgan as well as so many other leading employers are choosing to offer benefits through Mercer’s private exchanges for 2014," said Julio A. Portalatin, Mercer’s President and CEO. “This speaks to their recognition that Mercer’s exchange offerings provide the opportunity to manage their costs, simplify plan administration, and offer employees and retirees a range of benefits to meet their needs,” he added.
Thirty-three early adopters have chosen Mercer Marketplace, Mercer’s private exchange for active employees, to offer in 2014 a range of medical, dental, life, disability, and other voluntary benefit choices. In addition to Petco, some of the employers that will also offer Mercer Marketplace to their active employees include DineEquity, Addison Group LLC, Cosentry, PAS Technologies Inc., Sanborn Map Company, Surgical Specialties Corporation, Kraus Flooring, and Vistronix. The employees covered under these 33 active plans total 75,000 and including dependents the number of individuals covered is anticipated to be 165,000, according to Mercer.
Nineteen employers have chosen Mercer’s Medicare solution, which Mercer offers through either Optum’s myCustomHealthTM private exchange platform or UnitedHealthcare’s Connector Model for retirees. Employers include Kinder Morgan, St. Louis Metro Transit, and 17 other employers; retirees under these plans total 35,000.
Mercer Marketplace is a solution for employers with either self-insured or fully insured plans and it can be scaled to employers with as few as 100 employees. Three-fourths of Mercer’s exchange clients have fewer than 2,000 employees, testament to its appeal for mid-market employers looking for cost savings, compliance support, ease of administration, and employee satisfaction.
Mercer continues to be in active discussion with other companies interested in making its exchange offerings available at midyear 2014 or for January 1, 2015.
“As the Affordable Care Act continues to take full effect, Mercer is distinguishing itself as a versatile partner for a broad range of employers who want to continue providing coverage to employees and retirees in a fiscally responsible way,” said Eric Grossman, Exchange Business Leader for Mercer’s Health & Benefits business. “We are finding particular interest among mid-sized employers, who can achieve results through Mercer Marketplace that previously would have been out of reach. Adoption is taking place in a wide range of businesses,” he added.