Towers Watson's OneExchange Records Largest Off-Cycle Enrollment in Its History
18 August 2014 - 11:05PM
Business Wire
Employers increasingly recognize the value of implementing a
private exchange outside the traditional fall enrollment
period
Towers Watson (NYSE, NASDAQ: TW), a leading global professional
services company, announced today that in the first half of 2014,
45 major U.S. employers launched OneExchange for full-time,
part-time or retired employees. This is the largest number of
employer implementations outside the typical fall enrollment period
in the private exchange’s eight years of operation.
“Launching a private exchange outside the fall enrollment season
lets employers set their own timetable based on what’s best for
their workforce and business cycle,” said Bryce Williams, managing
director with Towers Watson’s Exchange Solutions. “This approach
can offer employees and retirees additional breathing room to learn
about their options, access tools and advisory services, and select
the best plan for them. It also lets them get more comfortable with
a new exchange model, reducing worry and increasing
satisfaction.”
The 45 employers that adopted Towers Watson’s OneExchange range
across industries and both the public and private sector. They
include:
- GameStop: Full-time active
employees
- International Paper: Medicare-eligible
retirees
- Northrop Grumman: Medicare-eligible
retirees
- State of Rhode Island:
Medicare-eligible retirees
With these employers, OneExchange now serves more than 1,100
employer clients.
Towers Watson acquired the nation’s first and largest private
Medicare exchange, Extend Health, Inc. in 2012, followed by its
acquisition of Liazon Benefits in 2013.
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global
professional services company that helps organizations improve
performance through effective people, risk and financial
management. The company offers consulting, technology and solutions
in the areas of benefits, talent management, rewards, and risk and
capital management. Towers Watson has more than 14,000 associates
around the world and is located on the web at towerswatson.com.
Forward-Looking Statements
This document contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
You can identify these statements and other forward-looking
statements in this document by words such as “may,” “will,”
“would,” “expect,” “anticipate,” “believe,” “estimate,” “plan,”
“intend,” “continue,” or similar words, expressions or the negative
of such terms or other comparable terminology. Such statements are
based upon the current beliefs and expectations of Towers Watson’s
management and are subject to significant risks and uncertainties.
Actual results may differ from those set forth in the
forward-looking statements.
The following factors, among others, could cause actual results
to differ from those set forth in the forward-looking statements: a
decline in client demand (for example, resulting from the reduced
use of defined benefit plans); the risk of a breach of company or
client data; the ability to successfully make suitable acquisitions
and divestitures; the risk that the acquisitions of Extend Health
and Liazon are not profitable or are not otherwise successfully
integrated; our ability to protect client data and our information
systems; the risk that potential changes in federal and state
health care regulations, or future interpretation of existing
regulations, may have a material adverse impact on our business;
the risk that our Exchange Solutions or OneExchange businesses fail
to maintain good relationships with insurance carriers, become
dependent upon a limited number of insurance carriers or fail to
develop new insurance carrier relationships; the risk that changes
and developments in the health insurance system in the United
States could harm our business; our ability to respond to rapid
technological changes; the ability to recruit and retain qualified
employees, and to retain client relationships; and the risk that a
significant or prolonged economic downturn could have a material
adverse effect on Towers Watson's business, financial condition and
results of operations. Additional risks and factors are identified
under “Risk Factors” in Towers Watson’s most recent Annual Report
on Form 10-K filed with the SEC.
You should not rely upon forward-looking statements as
predictions of future events because these statements are based on
assumptions that may not come true and are speculative by their
nature. Towers Watson does not undertake an obligation to update
any of the forward-looking information included in this document,
whether as a result of new information, future events, changed
expectations or otherwise.
Towers WatsonMelanie Meharchand, +1
650-292-8717melanie.meharchand@towerswatson.com
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