October 1, 2014 – Arlington, VA & Columbus, OH – The Ohio Public Employees Retirement System (OPERS) has selected Extend Health, Inc., a Towers Watson company, to deliver and manage a private Medicare exchange, or connector, for its 145,000 Medicare-eligible retirees and spouses beginning in 2016.
The OPERS Medicare Connector will use Towers Watson’s OneExchange (formerly the Extend Health Medicare exchange) to provide retirees with access to plans on the individual Medicare market, one of several changes adopted by OPERS to offer more health care plan choices at affordable prices.
Extend Health became a Towers Watson company in 2012. Towers Watson’s OneExchange is the nation’s largest and longest-standing private Medicare exchange. OPERS, with $88.6 billion in assets, is the largest public pension fund in Ohio and the 11th-largest public pension fund in the United States.
“For months, we’ve been telling our retirees about the OPERS Medicare Connector concept, and working with Towers Watson makes it a reality,” said OPERS Executive Director Karen Carraher. “OPERS’ current and future Medicare-eligible retirees will save money and will have a wider selection of health care programs from which to choose.”
The OPERS Medicare Connector will go live for OPERS retirees in the fall of 2015 for the plan year 2016. Participants will be able to select, purchase and enroll in Medicare Advantage or a Medigap plan, and a Part D prescription drug plan.
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