League of California Cities Partners with OneExchange on New Private Exchange Offering
September 13, 2016
The League of California Cities® announced today that it is working with Willis Towers Watson to give cities more health care options to offer to their retirees through the League of California Cities’ Health Benefits MarketplaceSM (HBM). The HBM launched in August and is a consumer-driven platform that lets cities redesign their approach to medical insurance and gives retirees and active employees coverage choices that align with their individual needs.
“California city officials have expressed the need for solutions to the ongoing pressure they face in reducing Other Post-Employment Benefits (OPEB) liabilities and providing competitive health benefits to active employees and retirees,” said Chris McKenzie, executive director, League of California Cities. “The Health Benefits Marketplace provides cities with the flexibility to leverage technology to enable greater health care choice as well as help manage OPEB liabilities and rising health care costs by decoupling and unbundling active employee and retiree costs.”
Reducing OPEB liabilities and providing health benefits to active employees and retirees is a challenge for many cities. The HBM provides cities with an efficient tool to leverage technology to enable greater health care choice as well as help manage OPEB liabilities and rising health care costs by allowing cities to handle retiree health benefits separately from health benefits for active employees.
Medicare and early-retiree coverage on the HBM is provided by Willis Towers Watson on its OneExchange™ marketplace. OneExchange lets cities achieve an immediate reduction in retiree health benefit costs, including long-term liability and the administration of health plan management. Retirees enjoy the value and transparency of a robust marketplace, meaningful choice of individual plans, and the expert assistance of licensed benefit advisors to help them choose coverage that fits their needs.
Diversified Benefit Strategies serves as the League’s private exchange consultant.
“The League went through a rigorous selection process to choose its partners for the Health Benefits Marketplace,” said Barry Eyre, lead consultant, Diversified Benefit Strategies. “Willis Towers Watson and Connecture have proven to be excellent partners in the creation of a highly flexible platform designed to meet the needs of public agencies in California.”
To learn more about the League’s Health Benefits Marketplace visit www.cacities.org/hbm and for the full announcement, see League of California Cities Announces New Partners in Offering Improved Health Benefits Options to Local Cities.