Corporations, Universities And State Governments Deploy Thomson Reuters Solution To Improve Employees’ Benefit Selection Process
Ann Arbor, MI - Pepsi Bottling Group, ArvinMeritor, Inc., Marathon Oil Co., and the Commonwealth of Kentucky are among the major employers that implemented Thomson Reuters Informed Enrollment solution this fall to help their employees make better decisions about their benefits.
The Informed Enrollment solution gives employees a personalized summary of their families’ use of healthcare services and the cost of that care. With this personalized information, employees can determine which of the available benefit plan options best meets their needs.
Employers have generated significant results with this solution:
* Up to 30 percent of employees moved from benefit plans in which they were over-insured to more appropriate levels of coverage — saving money for themselves and their employers.
* More employees selected consumer-driven health plans and set up healthcare spending accounts. Increasing participation in, and contributions to, these flexible spending accounts reduces taxes for employers and employees.
* Use of online enrollment tools doubled, which increases employee healthcare engagement and satisfaction.
The employers who implemented the Informed Enrollment solution for the 2010 benefit enrollment period include Fortune 500 companies, a major university, and two state governments. They have a combined workforce of more than 600,000.
“Benefits are confusing and most people are risk-averse, so they tend to keep the benefit plan they have and not consider other options,” said Jon Newpol, executive vice president for the Healthcare & Science business of Thomson Reuters. “With this summary of their own healthcare experience, however, people can see the savings potential of a different plan option or a flexible savings account. This personalization increases employee satisfaction with, and confidence in, the benefit choices they make.”
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto Stock Exchange (TSX: TRI) and New York Stock Exchange (NYSE: TRI). For more information, go to www.thomsonreuters.com.
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