New York (4/2/14) — Joseph A. LoCicero, President & CEO of The Segal Group has announced an expansion of retiree health services for those organizations seeking a private health care exchange platform for Medicare eligible retirees.
Through a process of pre-screening existing retiree health exchanges and establishing new minimum vendor requirements Segal has pre-qualified three private exchange vendors that have agreed to meet certain minimum requirements. These include at least three years of operational experience, using only U.S.-based employees to service clients’ accounts and agreement with minimum performance standards.
For the active employee market, Segal has no pre-vetted arrangements with any private exchange service providers.
Mr. LoCicero said, “Segal’s role as independent advisors will continue. We have established non-exclusive relationships with these vendors and they have agreed to meet our minimum requirements. This initiative represents a step in the evolution of retiree health care consulting as we continue to tailor employer-sponsored health plan solutions to the needs of the plan sponsors and their retirees.”
According to Edward A. Kaplan, SVP and National Health Practice Leader, “The retiree health plan market is undergoing substantial change and in order to keep pace with this rapidly changing environment, we are adding solutions for our clients. Customized solutions will still be the preferred approach for many large group retiree health plan sponsors and we are prepared to serve clients that prefer this route. Others are beginning to explore the feasibility of moving to a retiree health exchange concept. We took this step to help expedite the vetting process for those clients preferring to implement a retiree health exchange with uniform standards in the areas of service and stability.”
For more information or to speak with Mr. Kaplan, please contact Erin Burns.
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The Segal Group (www.segalgroup.net) is a private, employee-owned consulting firm headquartered in New York and with nearly 1,000 employees throughout the U.S. and Canada. Members of The Segal Group include: Segal Consulting, Sibson Consulting, Segal Select Insurance Services, Inc., and Segal Rogerscasey. In 2014, The Segal Group is celebrating the 75th anniversary of its founding by Martin E. Segal.
Segal Consulting (www.segalco.com), a member of The Segal Group, is a leading, independent firm of benefits, compensation and human resources consultants. In 2014, The Segal Group is celebrating the 75th anniversary of its founding by Martin E. Segal. Segal is headquartered in New York and has nearly 1,000 employees throughout the U.S. and in Canada. Clients include state and local governments, corporations, non-profit organizations, professional service firms and joint boards of trustees administering pension and health and welfare plans under the Taft-Hartley Act.