Employee benefits unit Lockton Benefit Group has joined hands with SelectQuote Benefit Solutions to provide its clients a private insurance exchange for retiree medical benefits, known as Lockton Select Marketplace.
Lockton Benefit Group president J Michael Brewer said, "This allows us to offer state-of-the-art decision support tools, end-to-end communications and an array of carrier partners to our clients’ retirees."
The privately owned, independent insurance brokerage firm said that the private health insurance exchange will be provided to its employer clients for the benefit of their retirees with age group of 65 and above.
The retirees along with any disability Medicare recipients, will now have access to Medicare Supplement, Medicare Advantage and prescription drug plans through the Lockton Select Marketplace, powered by SelectQuote Senior.
Leveraging this private insurance exchange, retirees will be able to access the cost effective plan that makes sense for their lifestyle and retirement goals.
SelectQuote Benefit Solutions president David Embry said, "Whether the participants are converting from a group plan or simply retiring, we will ensure that each retiree has the information he or she needs to make the right decision."
Established in 1966 in Kansas City, Missouri, Lockton delivers more than 15,000 clients around the world with insurance, benefits, and risk management services.