A total of 52 employers will be a part of Mercer’s private exchange platforms on Jan. 1 2014, according to an announcement from the company on Tuesday. Thirty-three employers will offer Mercer Marketplace for active employees and an additional 19 organizations will provide retiree solutions. Including dependents, some 200,000 individuals are expected to be covered in the Mercer exchange on Jan. 1.
Mercer is still in active discussion with other companies seeking to add its exchange offerings by mid-year 2014 or the beginning of 2015.
Ranging in size from 100 to 30,000 employees, the 52 employers include Petco, Kinder Morgan and the Addison Group. Mercer president and CEO Julio A. Portalatin says they can expect a range of medical, dental, life, disability and other voluntary benefit choices.
“We’re delighted that Petco and Kinder Morgan as well as so many other leading employers are choosing to offer benefits through Mercer’s private exchanges for 2014,” Portalatin says. “This speaks to their recognition that Mercer’s exchange offerings provide the opportunity to manage their costs, simplify plan administration, and offer employees and retirees a range of benefits to meet their needs.”
Eric Grossman, exchange business leader for Mercer’s health & benefits business, points out that three-fourths of Mercer’s exchange clients have fewer than 2,000 employees, illustrating its appeal for midmarket employers. Mercer Marketplace is available for fully insured or self-insured companies.
“As the Affordable Care Act continues to take full effect, Mercer is distinguishing itself as a versatile partner for a broad range of employers who want to continue providing coverage to employees and retirees in a fiscally responsible way,” Grossman says. “We are finding particular interest among mid-sized employers, who can achieve results through Mercer Marketplace that previously would have been out of reach. Adoption is taking place in a wide range of businesses.”
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