The Segal Group Inc. on Wednesday said it has expanded its retiree health services offerings for organizations interested in a private health care exchange platform for Medicare-eligible retirees.
Segal has prequalified three private exchange vendors that have agreed to meet minimum requirements including at least three years of operational experience, exclusively using U.S.-based employees for account service and agreement with minimum performance standards, the New York-based consulting firm said in a statement.
“Segal’s role as independent advisers will continue,” Joseph A. LoCicero, president and CEO of the Segal Group, said in the statement. “We have established nonexclusive 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.”
Segal has no prevetted arrangements with any private exchange service providers for the active employee market, the firm said.
“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,” Edward A. Kaplan, senior vice president and national health practice leader at the Segal Group, said in the statement. “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.”