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Starbucks Corp. has signed up with Aon Hewitt to offer health insurance plans through Aon Hewitt's private exchange, the Aon Active Health Exchange.
“Providing industry-leading benefits for eligible full- and part-time partners is a cornerstone of who we are as a company,” Ron Crawford, Starbucks' vice president of global benefits in Seattle, said in a statement Monday.
“Much like a travel site, online platform to choose between more insurance carriers and coverage levels at more competitive prices to help them find the right plan for their own needs,” Mr. Crawford added.
Depending on their location, Starbucks employees will be able to choose from plans offered by four to six insurers, up from one insurer. Those insurers will offer five health plan designs, up from the current three designs.
“Eligible partners in the U.S. could save up to $800 annually by moving to a health insurance plan that better meets their individual needs. The potential savings are even more for partners who select family coverage, with the opportunity to save $2,600 annually,” Starbucks said in a statement.
Seattle-based Starbucks declined to identify the names of the insurers that will offer coverage through the exchange but said the plans will be fully insured.
Starbucks will move to the exchange effective Oct. 1, with open enrollment between Aug. 1 and Aug. 19.
The overwhelming majority of individuals who enrolled in plans offered through public health insurance exchanges during the 2016 open enrollment season have paid their premiums and still have active coverage, according to the U.S. Department of Health and Human Services.