Web-based tool helps transition employees to retirement
Moving an employee from a company’s health insurance plan to Medicare takes more than a few mouse clicks. With this in mind, Willis Towers Watson unveiled an updated version of its cloud-based tool BenefitView to help retirees transition from group healthcare plans to individual market plans.
Navigating the vast ocean of individual healthcare can be overwhelming and confusing for new retirees. “Transitioning requires education and support and an understanding of the marketplace and options,” says Benjamin Pajak, leader of individual market place, Willis Towers Watson.
“We find that our employers are paternalistic. They want to make sure their employees are covered throughout their lifetime,” he adds.
The updated BenefitView program helps an employee select a health plan that meets their healthcare and financial needs. The update features enhanced security and lets employers monitor “their entire Medicare exchange populations,” says Pajak.
It also integrates retirees’ Medicare enrollment and health reimbursement data for easier client use.
Most of WTW clients enrolled in the program are older than 65 and Medicare-eligible, says Pajak. Retirees younger than 65 can choose a care plan among private insurances through state, brokers, or carriers.
“We offer more than 150 carriers and thousands of plans to choose from,” he says.
Employees can also access help either online or through a call-center. “I am looking at it on my Mac and can see it on my iPhone, and the person sitting next to me has it on his PC and Android,” he says.
The program’s retiree enrollment data is pulled from WTW’s business analysis platform and is available strictly to employers. Employers can see the number of eligible candidates, the number of enrolled members, and other data.
Employers can also use the data at WTW’s service center, which is collected when people call with questions. They can use this data to choose and enroll in new programs such as medical insurance and prescription drug programs during their retirement. Employers “can see inbound and outbound call data, when there is more activity or when it is slower,” says Pajak. “With real-time monitoring, they are assured that their retirees find and enroll in the healthcare program that they need.”
Aimed at employers and benefit administrators, WTW says BenefitView is currently used by 565 employers and more than 1.8 million retirees.