Buck Consultants’ Private Health Insurance Exchange Serves 400,000 Participants for 2014 Health Care Enrollment
NEW YORK — RightOpt®, the private health insurance exchange from Buck Consultants, A Xerox Company (NYSE: XRX), is servicing more than 400,000 active participants during the fall open enrollment period.
Since it became available earlier this year, employers using RightOpt include Arby’s Restaurant Group, Bob Evans Farms, Church & Dwight Co., Inc., Domino’s Pizza, Ovation Brands, and Buck’s parent company Xerox.
RightOpt, designed for employers with 3,000 or more employees, focuses on the participants’ health and wellbeing while driving down employer benefit delivery expenses. This private insurance exchange can help employers reduce their health care costs and improve employee and dependent health outcomes through its year-long focus in three key areas – choose, use, and improve. Members are encouraged to “choose” their personally preferred plan options at enrollment, “use” those options effectively throughout the year, and “improve” or maintain their health risks over time.
“RightOpt allows our employees to benefit from lower costs, choose from additional plan options, and work toward improved long-term health through expanded tools and resources that we are able to provide,” said Jim Levine, director, Compensation & Benefits at Church & Dwight Co., Inc. “We reviewed other exchanges and found that they did not fundamentally change the overall amount that Church & Dwight and its employees pay for health care. RightOpt’s model is designed to deliver savings that benefit both the company and our employees.”
“The RightOpt delivery platform provided Bob Evans Farms with an opportunity to more cost-effectively deliver a competitive employer-sponsored benefit program while providing expanded plan options and resources to our employees,” said Pam Kuryla, vice president, Total Rewards, Bob Evans Farms. “Moving to RightOpt, combined with Xerox benefit administration outsourcing, supports an integrated experience across our entire workforce regardless of benefit eligibility.”
Buck also recently enhanced RightOpt to include retirees, COBRA members and part-time employees. The expansion of RightOpt means an employer can now cover its entire workforce from hire through retirement, including:
• Full time/benefit-eligible active employees;
• Part time/non-benefit-eligible active employees/COBRA;
• Pre-65 retirees;
• Medicare-eligible retirees.
“Employers are often confronted with the difficult decisions to reduce or eliminate retiree medical benefits and how to support part-time employees in evaluating and securing individual coverage,” said Sherri Bockhorst, principal and leader, Health Exchange Solutions. “RightOpt provides plan sponsors with a smart way to help their retirees and part-time workers evaluate and purchase appropriate individual coverage using available public subsidies.”
As part of the expanded RightOpt health exchange, eligible active employees will have access to group health plans offered through Buck’s preferred-partner strategy, which regionally aligns provider networks based on quantitative criteria, including network breadth, provider discounts, cost guarantees and quality. Ineligible active employees, pre-65 retirees and Medicare-eligible retirees will have access to individual, fully insured plans as well as available public subsidies through a centralized portal and call center.
For more information on Buck’s RightOpt health exchange, please click here. For Xerox’s healthcare expertise across virtually every member of the healthcare ecosystem, click here.
About Buck Consultants
Buck Consultants, A Xerox Company, is a leader in human resource and benefits consulting with more than 1,500 professionals worldwide. Founded in 1916 to advise clients in establishing and funding some of the nation’s first public and private retirement programs, Buck is an innovator in the areas of retirement benefits, health and welfare programs, talent and human resources solutions, compensation, and employee communication. News and other information about Buck Consultants are available at www.buckconsultants.com.
Since the invention of Xerography 75 years ago, the people of Xerox (NYSE: XRX) have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping organizations of any size be more efficient so they can focus on their real business. Headquartered in Norwalk, Conn., more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations. Learn more at www.xerox.com.
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