Private Exchanges

Towers Watson Launches Exchange Solutions Group

by: Chris McMahon
January 24, 2014

Towers Watson plans to consolidate its health care exchanges and administration expertise and resources within the new Exchange Solutions segment. Jim Foreman, managing director of the Americas, will lead the Exchange Solutions segment. Carl Hess, global head of the company’s investment business, will replace Foreman as leader of the Americas. The changes are effective Feb. 1, 2014.

Towers Watson will combine the operations and associates from Extend Health, which it acquired in 2012; Liazon, which it acquired in late 2013; much of its North American Technology and Administration Solutions health care business, and other consultants dedicated to health care exchanges into the existing Exchange Solutions segment, Towers Watson said. The resulting business unit will be dedicated to helping employers deliver health care benefits to employees and retirees through private exchanges and administration, the company said.

“We believe this action strengthens our ability to provide the best exchange and administration solutions to the marketplace and also underscores our commitment to serving our clients and meeting their needs,” said John Haley, chairman and CEO at Towers Watson. “We have a long history of innovation and expertise in benefits, and I’m confident that this will accelerate our ability to help companies thrive in the new health care reform environment.”

Foreman has been managing director of the Americas since January 2010; he will continue to serve on the executive committee. Foreman joined the company in 1985 and has held several leadership positions during his tenure, Towers Watson said. Previously, he was EVP of national businesses and a member of the executive committee at a major insurer.

Hess has been at Towers Watson for 25 years and most recently was the global head of Towers Watson’s investment business. He also will serve on the executive committee.

“Jim and Carl bring extensive experience and the necessary leadership to these two important positions,” Haley said. “Jim’s expertise in both consulting and the health care insurance marketplace makes him a natural fit to lead Exchange Solutions. Carl is a true thought leader, and his track record of growing our Investment business over the years will be a tremendous asset in his new position.”

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