Health care reform has created new challenges and opportunities for U.S. employers that offer employee health care benefits. Research shows that three in five employer-sponsored group health plans will be required to pay the excise tax beginning in 2018. Plan premiums continue to rise, and chief finance officers are asking tough questions about the long-term sustainability of benefit programs.
Even so, many employers remain committed to providing health care benefits for their most valuable resource: their employees. But they want new options for delivering these benefits to the full range of their employee and retiree populations.
Private health insurance exchanges enable U.S. employers to rein in rising health benefit costs and mitigate the associated risks, while keeping their commitment to sponsoring coverage for employees. Towers Watson's OneExchange, today's most sophisticated private health insurance exchange, combines advanced exchange technology with Towers Watson's long history of innovation in health care benefit plan design and implementation.
What Is OneExchange?
OneExchange is a highly efficient mechanism that enables consumers — your employees and retirees — to find and purchase the health benefits that best fit their needs and budget. It lets you retain control of your group benefit offering for full-time, active employees, while giving your retirees and part-timers access to federally subsidized, individual plan marketplaces.
Significant Cost-Saving Opportunity
Towers Watson runs the numbers. We'll compare the current and projected costs of your group plan with the costs and benefits of transitioning to OneExchange. Most employers that move to OneExchange save between 3% and 25% in their health benefit spending.
To learn more about OneExchange, contact us today.