247 companies with 500,000 active employees and retirees, representing a total of over 1 million eligible lives, have chosen Mercer Marketplace private exchange solution
Voluntary benefits and individual medical coverage represent access to an additional 1.5 million eligible lives
Employers realize per employee medical plan cost savings of up to 15%, and an average 10% on certain ancillary products
Mercer, a global consulting leader in talent, health, retirement and investments, and a wholly-owned subsidiary of Marsh & McLennan Companies (MMC), announced today that 247 companies have chosen the Mercer Marketplace exchange for their active and retiree exchange solutions. These relationships cover 500,000 employees and retirees and provide exchange access for more than 1,000,000 lives, including dependents. This represents nearly five times the reach of Mercer Marketplace when compared to 52 companies, 110,000 eligible employees/retirees and 220,000 lives of a year ago. Additional enrollments for 2015 will continue throughout 2014.
“The growth in people and companies attracted to our exchange platforms is a powerful demonstration of the broad applicability of Mercer Marketplace solutions,” said Julio A. Portalatin, Mercer’s President and Chief Executive Officer. “Our clients and their employees are confirming that we offer the most flexible and complete private exchange in the market that meets the real needs of a wider spectrum of companies. Further evidence of our momentum is the acquisition of 40 new clients not previously served by Mercer’s health business in addition to our continued growth with existing clients.”
A 2014 analysis of purchasing behavior on Mercer Marketplace showed that, given the opportunity to choose from a range of benefit options, many consumers purchased lower-cost medical plans. That, combined with access to Mercer Marketplace network arrangements, care management and prescription drug programs, allows employers to achieve up to 15% medical plan cost savings. In addition, Mercer Marketplace drove an average savings of 10% on the cost of life and disability benefits. These savings are enjoyed by both employers and employees.
“These savings result from Mercer Marketplace’s purchasing power combined with consumer decisions to purchase coverage that is more appropriate to their personal needs,” said Sharon Cunninghis, Mercer Marketplace Leader. “The fact that employers were able to achieve significant cost savings while offering their employees the ability to personalize their benefits is exciting news. This satisfaction from both companies and individuals gives others confidence in the exchange experience and positions this as one of the standard benefits models of the future.”
In addition to the employer active and retiree clients, several companies have selected Mercer Marketplace as the platform for delivering voluntary benefits, with 330,000 employees (730,000 lives including dependents) eligible to select benefits through this program. Mercer also provides access to individual medical insurance coverage to an additional 750,000 individuals through the firm’s relationship with GetInsured. While enrollment in these offerings may initially be modest, using Mercer Marketplace for delivery of voluntary benefits and individual medical insurance provides an avenue for both employers and employees to begin to experience the advantages the exchange platform offers.
In total, across the full range of its active, retiree, voluntary benefits only and individual medical, Mercer Marketplace will provide access to benefits to approximately 2.5 million lives in 2015.
To learn more about Mercer Marketplace, please visit
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 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.