Mercer, a subsidiary of Marsh & McLennan Companies, has signed a definitive agreement to acquire Transition Assist, a retiree exchange specializing in assisting retirees in employer-sponsored plans select Medicare supplemental health care insurance.
The acquired entity delivers services through a licensed call center and professionally-trained benefits counselors. Financial terms of the deal have not been disclosed.
Following completion of the transaction, Transition Assist will become part of the full suite of solutions offered by Mercer Marketplace.
Commenting on the takeover, Mercer president and CEO Julio Portalatin said this acquisition broadens Mercer Marketplace by providing direct and immediate access to the individual and employer-sponsored retiree market.
"Transition Assist allows our clients to manage costs while offering their retiree population affordable, quality insurance choices with a high-degree of dedicated, personalized support.
"Furthermore, through this expanded solution Mercer Marketplace also gains the ability to reach individual retirees not eligible for an employer-sponsored plan," Portalatin added.
Established in 2008, Transition Assist offers retirees with superior service and education as they convert from employer-sponsored group medical insurance to Individual personalized plans.
Mercer has more than 20,000 staff across 43 nations and manages business in over 140 countries.
Image: Marsh & McLennan headquarters in the Americas. Photo: courtesy of Americasroof.