Enrollment in Health Benefits Through Towers Watson’s Exchange Solutions Expected to Reach About 1.2 Million in 2015
March 27, 2015
By the end of 2015, approximately 1.2 million employees, retirees, and eligible family members sponsored by 1,500 different employers will be choosing their health care coverage via Towers Watson’s private health insurance exchange solutions. That’s up from 800,000 at the end of 2014, or nearly a 50% increase.
Convergys Corporation, a global leader in customer management, was one of the first companies to adopt OneExchange for its full-time employees. Envision Healthcare, a leading provider of medical transportation and facility-based physician services, and global branded media company Time Inc. are among the new employers that adopted OneExchange for their full-time employees for the plan year 2015.
Here’s what Convergys and Envision had to say about OneExchange:
“We’re pleased that OneExchange has helped us manage escalating costs associated with health care benefits for our company and our employees,” said Dennis Hicks, vice president, compensation and benefits for Convergys. “At the same time, we are pleased with how our employees have responded to the change. Post-enrollment data show us that our people chose their insurance options with an eye toward value… and over 90% felt the information they received from OneExchange helped them make informed choices.”
“Towers Watson has developed a program that allows our employees more provider, health plan and price options than previously available, which is almost unheard of in today’s health care marketplace, said Don King, Envision’s vice president of benefits and compensation. “Expanding insurance carrier options spurs competition, which improves long-term cost-mitigation opportunities.”
Towers Watson’s OneExchange has the distinction of having the longest operating history in the private exchange industry. OneExchange supports all workforce populations, from full- and part-time employees to pre-Medicare and Medicare-eligible retirees.
For more information on the growing numbers of employers choosing Towers Watson’s exchange solutions, read our press release here.