Mercer MarketplaceTM Expands Relationship with Leading Benefits Technology Provider
Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly-owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), today announced a significant expansion of its relationship with Benefitfocus (NASDAQ: BNFT), including a strategic equity investment in the company. Mercer will make an initial 9.9% investment, with the option to increase its ownership over time.
“Mercer Marketplace has become a leading private benefits exchange for active employees,” said Julio A. Portalatin, Mercer’s President and Chief Executive Officer. “The success of Mercer Marketplace is driven by the flexibility that allows it to meet the needs of a wide range of companies and individuals. Our proprietary solution – powered by Benefitfocus technology – is critical to that flexibility as we continue to innovate and grow together.”
Launched in 2013, Mercer Marketplace grew the number of participating employers, eligible employees, and eligible lives by five times in 2014. This rapid expansion continues to demonstrate that, when presented with a wide range of quality options, many people will choose lower-cost medical plans that are often better suited to their specific needs. That behavior, combined with the range of offerings on Mercer Marketplace allows employers to achieve up to 15% medical plan cost savings as well as up to 10% savings – shared by both individuals and employers – on non-medical benefits such as voluntary life and disability.
“This is a milestone for Benefitfocus and a testament to the power of combining our technological expertise with Mercer’s proven execution and broad client reach,” said Benefitfocus President and CEO Shawn Jenkins.
“Mercer Marketplace is a catalyst for disruptive innovation within the health and benefits industry serving more than two million eligible lives including active employees, retirees, individuals and dependents,” said Sharon Cunninghis, Mercer Marketplace Leader. “Together with Benefitfocus we have established a strong relationship that helps power our proprietary solution and reputation for delivering the best overall experience in the industry."
To learn more about Mercer Marketplace, please visit http://www.MercerMarketplace.com.
Mercer is a global consulting 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 43 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 57,000 employees worldwide and annual revenue exceeding $13 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.
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