NEW YORK--(BUSINESS WIRE)--Buck Consultants, A Xerox Company (NYSE: XRX), plans to launch RightOptTM, a private health exchange for employers with 3,000 or more benefit-eligible employees. Buck’s exchange is intended for fall 2013 enrollment.
Buck’s RightOpt health exchange design can help employers reduce their health care costs and improve employee and dependent health outcomes through health insurance provider relationships that are negotiated and managed by Buck.
RightOpt would differ from other private exchange options by allowing participating employers to use a national network of providers offered to employees based on the value each provider delivers in a specific metropolitan area. Employees located across the country would access the more deeply-discounted networks of providers; a model many employers have avoided historically due to the administrative complexities. The solution is planned to be available on both a self-funded and a fully insured model.
Buck’s RightOpt health exchange strategy focuses on personalizing the member experience based on a family’s health, adversity to risk and preferences. A single access point portal would support the personalization of benefits in three key areas – choose, use and improve. Members would be allowed to “choose” their personally preferred plan options at enrollment, “use” those options effectively throughout the year and “improve” or maintain their health risks over time.
This single access point portal would include member education, decision-support tools and health engagement resources designed to help employees make more informed decisions.
According to a recent Buck Consultants survey, the top two issues facing U.S. employers are reducing health care costs and improving worker productivity, noted Sherri Bockhorst, principal and leader, Buck Health Exchange Solutions.
“RightOpt can help address this challenge by enabling employers to promote a healthier and more focused workforce while driving costs out of the health care delivery system,” said Bockhorst.
Buck also offers a retiree exchange platform, My Medicare Advocate®. It helps retirees evaluate and select from a range of Medicare coverage or plan choices, and provides customized information and personal assistance. Xerox administers Medicaid programs in 36 states and the District of Columbia and is involved in developing systems for public healthcare exchanges to be implemented by certain states.
For more information, please click here for a podcast on Buck's RightOpt exchange.
About Buck Consultants
Buck Consultants, A Xerox Company, is a leader in human resource and benefits consulting with more than 1,500 professionals worldwide. Founded in 1916 to advise clients in establishing and funding some of the nation’s first public and private retirement programs, Buck is an innovator in the areas of retirement benefits, health and welfare programs, talent and human resources solutions, compensation, and employee communication. News and other information about Buck Consultants are available at http://www.buckconsultants.com.
About Xerox
With sales approaching $23 billion, Xerox (NYSE: XRX) is the world’s leading enterprise for business process and document management. Its technology, expertise and services enable workplaces – from small businesses to large global enterprises – to simplify the way work gets done so they operate more effectively and focus more on what matters most: their real business. Headquartered in Norwalk, Conn., Xerox offers business process outsourcing and IT outsourcing services, including data processing, healthcare solutions, HR benefits management, finance support, transportation solutions, and customer relationship management services for commercial and government organizations worldwide. The company also provides extensive leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size. The 140,000 people of Xerox serve clients in more than 160 countries. For more information, visit http://www.xerox.com, http://news.xerox.com or http://www.realbusiness.com. For investor information, visit http://www.xerox.com/investor.
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XEROX®, XEROX and Design® are trademarks of Xerox in the United States and/or other countries. My Medicare Advocate® and RightOptTM are trademarks of Buck Consultants, LLC.