Oneexchange is on the Move for Taking Over

[Tbryant44]

I currently work for Oneexchange, and they are taking over the Market getting retirees to be locked into buying plans from them, they are getting major contract with IBM, JP Morgan Chase, Northgrup and now Lockheed Martin if they don't get a plan thru Oneexchange they will loose funding, Senior should have a choice of a agent who they want to deal with and develop a relationship with all that on the phone is not getting it, and some of the people advising them on the phone has not experience and giving them wrong information and not even looking up their medication, just selling them a plan, many are locked it. I feel so sorry for them stuck.

 

[yogooglethis]

I currently work for Oneexchange, and they are taking over the Market getting retirees to be locked into buying plans from them, they are getting major contract with IBM, JP Morgan Chase, Northgrup and now Lockheed Martin if they don't get a plan thru Oneexchange they will loose funding, Senior should have a choice of a agent who they want to deal with and develop a relationship with all that on the phone is not getting it, and some of the people advising them on the phone has not experience and giving them wrong information and not even looking up their medication, just selling them a plan, many are locked it. I feel so sorry for them stuck.

Maybe you can or someone else can save me some time and tell me the arrangement will be with them because I received a referral call from a Lockheed retiree yesterday who wants me to come talk with him and his wife Friday.Do they lose there stipend or HSA if they use an outside agent?I also received a call from a CSX retiree in Florida ho said they received a letter about One exchange.what do you know about that arrangement?

 

[sshafran]

I currently work for Oneexchange, and they are taking over the Market getting retirees to be locked into buying plans from them, they are getting major contract with IBM, JP Morgan Chase, Northgrup and now Lockheed Martin if they don't get a plan thru Oneexchange they will loose funding, Senior should have a choice of a agent who they want to deal with and develop a relationship with all that on the phone is not getting it, and some of the people advising them on the phone has not experience and giving them wrong information and not even looking up their medication, just selling them a plan, many are locked it. I feel so sorry for them stuck.

OneExchange also got all of Ohio's public retirees (OPERS).... starting in 2016...

Thousands and Thousands of people.

I read through some of the Q&A between the retirees and OPERS - and OPERS was saying that they did this "for their protection" because OPERS didn't want them to "fall victim to insurance agents who are influenced by commission."

Based on that, I thought OneExchange was a charitable organization... hahah

No?

In all seriousness, it is a tad naive to think OneExchange can do "better" than a good local broker. The hourly call center reps they are supposed to work with can not have the same "street smarts" as a local market broker. It's just not possible.

 

[TN_agent]

I just dealt with a lady who was fed a bunch of bull by a OneExchange Agent.

She smelled a rat and came to me. There was only a one-time payment, not an ongoing HRA, so she was willing to forego the money to get the MAPD she wanted.

They fed her a bunch of insurance jargon about why they couldn't sell her a certain MAPD that she wanted and why she needed to go with a different carrier for the MAPD.

 

[insuranceconceptscindy]

I just sent a lady to Medicare to get an SEP for misrepresentation by a OneExchange agent. She wanted a PPO plan, got a PDP. They managed to screw her up royally.
I understand the money/time saving aspect with what they do, but for most new Medicare enrollees, they need a face to face with someone. Especially the much older members who have a hard time over the phone.

 

[somarco]

There was only a one-time payment, not an ongoing HRA,

None of these arrangements I have seen are guaranteed to continue. Former employer doesn't want to be on the hook for future payments. That is one reason why they dropped a formal retirement plan in favor of the HRA.

 

[yogooglethis]

I currently work for Oneexchange, and they are taking over the Market getting retirees to be locked into buying plans from them, they are getting major contract with IBM, JP Morgan Chase, Northgrup and now Lockheed Martin if they don't get a plan thru Oneexchange they will loose funding, Senior should have a choice of a agent who they want to deal with and develop a relationship with all that on the phone is not getting it, and some of the people advising them on the phone has not experience and giving them wrong information and not even looking up their medication, just selling them a plan, many are locked it. I feel so sorry for them stuck.

I don't see where Lockheed retirees would lose out using an outside agent and as a bonus they get full transparency on all plans available in the individual Medicare health plan and also they don''t have to deal with all the incorrect information from exchanges benefit advisers - like what you posted in your thread.

https://documents.oneexchange.com/website/LockheedMartin/Post65-Retiree-Medical-FAQs.pdf

https://www.youtube.com/watch?v=1E0IaIQp1qc&feature=youtu.be

 

[EltonHCP]

Well, nothing new under the sun.

1) Employers want to reduce cost of retirement plans. They'll turn to anyone who promises lower cost to administer their retiree plans. The lowest costing administrator will want a lock-in arrangement in return. The retiree will "have to" go with OneExchange or whoever for their subsidized retiree plans.

2) Carriers will want to reduce administrative overhead (read: commissions), so they go to some volume administrator who will take substantially less than street value and handle customer service, etc.

3) Private companies who offer MedSupp plans instead of fully insured plans is not new. I helped implement HRA MedSupp plans when I worked for a MedSupp/M+C carrier twelve years ago.

Good luck and good selling.

 

[WCMason]

I currently work for Oneexchange, and they are taking over the Market getting retirees to be locked into buying plans from them, they are getting major contract with IBM, JP Morgan Chase, Northgrup and now Lockheed Martin if they don't get a plan thru Oneexchange they will loose funding, Senior should have a choice of a agent who they want to deal with and develop a relationship with all that on the phone is not getting it, and some of the people advising them on the phone has not experience and giving them wrong information and not even looking up their medication, just selling them a plan, many are locked it. I feel so sorry for them stuck.

The retirees of many of these companies have never had the choice of an agent. They had a take it leave it (with no subsidy) retiree health plan, usually administered by a third party administrator. They're getting essentially the same thing, though different benefits and a different kind of TPA. They would get access to better choices and service if they were free to shop individually, but we're not losing anything until a company that never offered a retiree plan starts one using an exchange, pulling those retirees out of the individual market.

 

[sman]

I'm not too worried about OneExchange. They focus on the big corporations. The majority of workers in this country are employed by small and medium sized companies who don't offer retiree benefits.

We have a huge employer here in Atlanta. They go by the name of Delta Airlines. They offer retiree benefits. And many times the retiree is better off getting coverage outside of what Delta offers. I have several clients who are Delta retirees.

I love coming across a person who goes through one of these exchanges. I'll get their meds and doctors and run a comparison for them. More times than not the person at the exchange recommended the wrong plan. After the retiree sees that info they tend to want to do business with me unless the subsidy they're receiving is just too much to pass up.