Health Exchange for Medicare-Eligible Retirees
This CSAC Finance Corporation program allows California counties to provide health benefits for their Medicare-eligible retirees and dependents on the nation's largest private Medicare exchange. After an extensive RFP process, conducted by the CSAC Finance Corporation and overseen by County officials, ExtendHealth, a Towers Watson Company was selected as the program provider.
This program recognizes the mounting pressure on California counties to maximize value of tax dollars while meeting commitments to retirees by providing a means to remove the burden of retiree healthcare administration from the county and offer retirees more healthcare options in the open marketplace. Benefits of the ExtendHealth partnership include:
•First and largest private Medicare Exchange;
•500,000 retirees across nearly 300 plan sponsors;
•Hundreds of Millions saved in employer retiree medical spend;
•Retirees enroll in plan with equal to or better value;
•Personalized options with 4,000 plans across 85+ carriers;
•Licensed advisor provides guidance and lifetime advocacy.
As counties face the challenge of trying to predict and plan for retiree health benefits or experience expensive premium increases causing participants to explore the individual marketplace this program could provide relief.