Insurance

As small employers shift from group to individual coverage, private exchanges can be a useful tool to keep brokers competitive and maximize profits during the transition.

As Towers Watson & Co. and Willis Group Holdings Plc head to the altar for an all-stock merger valued at $18 billion, their respective private exchanges could command the roles of best man and bridesmaid.

The merger of Willis and Towers Watson is likely just one of many to come in the next few years, as the Affordable Care Act and other factors continue to change the landscape of the business of health care, industry experts agree.

Commentary: With their merger, both Willis and Towers Watson are playing offense, creating a synergy that strengthens both firms by combining the unique strengths of each … the brokerage experience of Willis and the analytical, consultative services of Towers Watson.

It turns out that two of the most common consumer complaints about HIX plans mirror longstanding gripes about traditional health insurance, but there’s a movement afoot to ensure provider network directories are accurate and help patients better calculate and budget for out-of-pocket costs in the nascent online marketplace.

Rising health care costs and concerns for employees’ financial wellness and retirement preparedness are nudging employers to re-evaluate their benefit offerings.

Commentary: Having quality data is great for comparing health plan, facility and treatment performance, but it unfortunately hasn’t led to predictable costs.

The merger of Willis Group Holdings and Towers Watson announced this morning is indicative of the industry’s focus on offering more comprehensive services to a wider customer base, and experts agree it probably won’t be the last merger announced in the near future.

Willis, the world’s third-largest insurance broker, and risk adviser Towers Watson, agreed to an all-stock merger creating a firm with a combined market value of $18 billion.

Commentary: Questions plan sponsors should be asking of their insurance carrier, payroll vendor and benefits technology provider in advance of the ACA’s information reporting requirements.