July 12, 2014 5:15 PM ET

Insurance

Company Overview of Gallagher Benefit Services, Inc.

Company Overview

Gallagher Benefit Services, Inc., along with its subsidiaries, operates as a commercial insurance and risk management company in the United States. It offers actuarial, underwriting, claims management and audit services to organizations in the accident and health, property and casualty insurance industries, employers, governmental entities, and risk assumption vehicles. The company provides retirement plan services and consulting services. It also markets individual life insurance, annuities, and long term care products through independent brokers. The company provides strategy development, defined contribution/benefit plan investment consulting, spending policy analysis, performance analysi...

The Gallagher Centre

Two Pierce Place

Itasca, IL 60143

United States

Founded in 1999

Phone:

630-773-3800

Fax:

630-285-4000

Key Executives for Gallagher Benefit Services, Inc.

President
Age: 64
Chief Financial Officer and Corporate Vice President
Executive Vice President of Western Region
Executive Vice President of Acquisitions
Executive Vice President of North Central Region
Compensation as of Fiscal Year 2014.

Gallagher Benefit Services, Inc. Key Developments

Gallagher Benefit Services, Inc. Launches Private Insurance Exchange Platform

Arthur J. Gallagher & Co. announced that its Gallagher Benefit Services, Inc. (GBS), has launched a private insurance exchange platform. Exchanges are expected to provide employers and employees an effective online marketplace to help them budget for, evaluate and purchase employee benefits. GBS has partnered with Liazon Corporation to offer the Bright Choices(R) Exchange. This online benefits store enables employers to save money on their healthcare costs by setting predictable budgets, while enabling employees to select health, dental, vision, life and disability coverage, among other benefits, from various national and regional insurance providers.

Gallagher Benefit Services, Inc. Enhances its Proprietary Suite of Decision Support Tools

Gallagher Benefit Services, Inc. (GBS) has enhanced its proprietary suite of decision support tools to enable organizations to evaluate and execute a 'Pay or Play' strategy. This responds to the U.S. Supreme Court's ruling that the Patient Protection and Affordable Care Act (PPACA) is constitutional. The three core tools are: HCR Financial Outlook produces a customized range of the potential costs of PPACA based on real-world scenarios to support an organization's decisions about the future direction and management of its benefits and total rewards programs. By running a statistically valid number of simulations, the HCR Financial Outlook projects the cost of an organization's current plan(s) to remain in compliance with PPACA's complex regulatory requirements and includes a comparison of the cost of changing plan design(s) versus the cost of potential penalties. HCR Planner is an interactive tool that helps employers create a concrete action plan to keep abreast of the rapidly evolving Healthcare Reform rules. This tool provides the framework to identify provisions of Healthcare Reform that will apply specifically to an organization, document any gaps between an organization's current benefits offering and the legal requirements, and determine next steps in plotting an organization's response to the most up-to-date aspects of the law. HRM is a predictive modeling tool that helps organizations understand the financial impact of federally mandated health plan changes to their existing plans, such as elimination of lifetime and annual dollar maximums, and elimination of cost-sharing for preventive services (for non-grandfathered plans).

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