Many plan sponsors find it hard to believe that the individual Medicare marketplace offers better value than a group plan. But the Medicare-eligible population of 58 million people, the influx of retiring baby boomers who are relatively young and healthy, and carrier competition for the retiree population’s business all contribute to keeping premiums low and stable.
The individual Medicare marketplace — or Medicare exchange — is a marketplace that provides affordable plan options for retirees while making retiree health care sustainable for plan sponsors.
The savings are proven. But what does the transition from a group plan to an individual Medicare marketplace really look like for both plan sponsors and retirees? John and Marianne share what retirees and plan sponsors can expect when transitioning to a Medicare marketplace.
Listen to the full episode below. You can also subscribe on Apple Podcasts or bookmark the "Eye on 65" page. More information for public sector plan sponsors can be found on the Willis Towers Watson website.