Global professional services company has entered a web broker entity agreement with the Centers for Medicare & Medicaid Services (CMS) in the US, which will allow employers to connect eligible populations to the federally managed exchange.
The CMS manages the federally facilitated marketplace including the health insurance exchange operated by the federal government across 36 states.
Towers Watson will now assist employers to offer health insurance education and enrollment services to part-time and seasonal employees, retirees and their dependents by supporting in evaluation and purchasing in individual health plans on the federally managed exchange.
In order to help individuals to purchase and enroll in subsidized coverage through the federal exchange, the Towers Watson's exchange platform will combine with federal eligibility systems, as per the terms of the agreement.
To ensure protection to people who buy plans on the federal exchange, a series of specific privacy and security requirements and consumer support guidelines have been mentioned in the contract, which must be followed by the web brokerage institutions.
Towers Watson exchange solutions managing director Bryce Williams said that many Americans either don't qualify for their employer's health plan or choose not to enroll in it.
The agreement enables part-time and seasonal employees, retirees and their dependents to learn about the health insurance options available to them, qualify for subsidies if they are eligible and enroll in health coverage on the federal exchange, Williams added.
Operating one of the largest private Medicare exchange in the country, the company helps organizations improve performance through effective people, risk and financial management.
