towers watson & co-cl a (TW) Key Developments
Towers Watson Announces Personalized Decision Support Service
Oct 7 14
Towers Watson announced a personalized decision support service that will help early retirees determine whether they are better off using a subsidy from their former employer or taking a tax credit from the federal government. Employer clients of Towers Watson's OneExchange asked for this capability in order to facilitate moving their early (pre-Medicare) retiree populations to individual market plans. The service is designed to help early retirees optimize their health insurance spending without 'double dipping'. Under the Patient Protection and Affordable Care Act, pre-Medicare retirees can use either a tax-advantaged employer subsidy or a federal tax credit to defray the cost of their health insurance premiums - but not both. The decision support service will be available to early retirees whose former employers have chosen Towers Watson's OneExchange to assist them in selecting individual health plans. For employers offering a subsidy, Towers Watson will set up and manage health reimbursement arrangements (HRAs) for each early retiree. 60% of employers transitioning their early retirees to the individual market using OneExchange this fall will offer subsidies through HRAs. Using the decision support service is a simple three-step process for early retirees: early retirees answer questions about household size, location and financial circumstances to estimate their eligibility for federal premium tax credits and cost-sharing reductions available through public health insurance marketplaces; early retirees compare their estimated tax credit to their employer subsidy, using a guided process that compares subsidy amounts, qualification requirements, eligible expenses and tax implications; armed with accurate information about their options, early retirees can choose which subsidy to pursue. OneExchange can also help early retirees who opt out of their employer subsidy to apply for tax credits through the federal- and state-based health insurance marketplaces, if they are eligible. This decision support service is available by phone through a OneExchange benefit advisor or online through a guided self-service tool. For early retirees who don't qualify for federal subsidies, the decision is simple. For those who qualify for both, the decision is more complex than simply choosing the larger amount, making the expert help offered by OneExchange a key part of the process. OneExchange benefit advisors help early retirees compare, select and enroll in individual market plans that are compatible with their chosen subsidy. Early retirees who accept their employers' funding can purchase individual health plans directly from insurers in their area or from the public insurance marketplace. Early retirees who accept a tax credit must choose plans from the public marketplace in order to receive the credit. The OneExchange subsidy decision support service will be available during this fall's annual open enrollment period for plans providing health care coverage for 2015.
Towers Watson Releases RiskAgility Proxy Modeller
Oct 6 14
Towers Watson & Co. has released RiskAgility Proxy Modeller, or PM, an addition to its RiskAgility life insurance financial modelling software suite which produces validated proxy models for capital models. Proxy modelling has become a central component of life insurer capital models, having applications for Internal Models, the ORSA (Own Risk Solvency Assessment) component of Solvency II and enterprise risk management frameworks, in addition to asset/liability matching, capital projections and asset allocations.
Towers Watson Announces Executive Changes
Sep 29 14
Towers Watson announced the appointment of Susan Potter as leader of the company’s U.S. East Division, effective October 1, 2014. Potter will succeed Eric Speer, who earlier September 2014 was named global leader for the company’s Risk Consulting and Software business. In her new role, Potter will be responsible for managing and growing the company’s business, and expanding client relationships across the eastern U.S. She will also remain involved in client work. Prior to this appointment, she was the managing consultant of Towers Watson’s Arlington office.
Towers Watson Mulls Acquisitions
Sep 19 14
Towers Watson & Co. (NYSE:TW) is looking for acquisitions. Chief Financial Officer, Roger Millay said, “This is a record on this slide of the past eight years or so of acquisition activity, some very large deals, some smaller deals, some geographic consolidation transaction, some adding to the product lines. But during this period where the company's market cap, probably I would guess maybe around $500 million back in 2005 now to $7 billion, a good portion of that has been driven by the fact that we are good acquirers understand, value and integrate well. So we expect that record to continue and contribute to the growth of the company and value creation in the future.”
Towers Watson & Co. Presents at InvestHedge Forum 2014, Sep-24-2014 09:00 AM
Sep 11 14
Towers Watson & Co. Presents at InvestHedge Forum 2014, Sep-24-2014 09:00 AM. Venue: The British Museum, London, United Kingdom. Speakers: Damien Loveday, Global Head of Hedge Fund Research.