Mercer, a subsidiary of Marsh & McLennan Companies, has reached a definitive agreement to purchase Transition Assist, a retiree exchange specializing in helping retirees in employer-sponsored plans select Medicare supplemental health care insurance. The retiree exchange offers solutions through a licensed call center and professionally-trained benefits counselors. Transition Assist will become part of the full suite of solutions offered by Mercer Marketplace.
Terms of the transaction were not disclosed.
“This acquisition broadens Mercer Marketplace by providing direct and immediate access to the individual and employer-sponsored retiree market,” said Julio A. Portalatin, Mercer’s President and Chief Executive Officer. “Transition Assist allows our clients to manage costs while offering their retiree population affordable, quality insurance choices with a high-degree of dedicated, personalized support. Furthermore, through this expanded solution Mercer Marketplace also gains the ability to reach individual retirees not eligible for an employer-sponsored plan.”
“Retirees in sponsored plans have been leading the way in the migration toward exchanges as a better way to shop for benefits,” said Sharon Cunninghis, leader of Mercer Marketplace Exchange Solutions. “Transition Assist was among the first to see this opportunity. A combination of deep technical knowledge and exceptional customer service has allowed Transition Assist to assemble a strong portfolio of clients. As an overall market, this represents a significant Medicare-eligible retiree population of some 12 million receiving benefits through employer programs.”
“Mercer Marketplace has quickly established a reputation as a market leader through its breadth of choice and depth of customer support,” said John Connor, Founder of Transition Assist. “These are qualities that have also helped differentiate Transition Assist and reflect a philosophical approach totally in line with our views and practices. We look forward to contributing to Mercer Marketplace’s continued success.”
About Transition Assist
Founded in 2008, Transition Assist is a leader in Medicare navigation, providing retirees with superior service and education as they convert from employer-sponsored group medical insurance to Individual personalized plans. Designed and structured based on interviews and interactions with thousands of retirees, Transition Assist takes its clients step by step through the process of comparing, evaluating, and selecting individual Medicare plans that best suit their lifestyles, needs and priorities.
Mercer is a global leader in talent, health, retirement, and investments. Mercer helps clients around the world advance the health, wealth, and performance of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 42 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital. With over 55,000 employees worldwide and annual revenue exceeding $12 billion, Marsh & McLennan Companies is also the parent company of Marsh, a global leader in insurance broking and risk management; Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a global leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @MercerInsights.