The Terry Group announces its partnership with Hager Strategic, a Washington, D.C. benefits, human resources and payroll outsourcing consulting firm, to help employers understand and evaluate the offerings of private healthcare exchanges.
“Our decades-long track record of offering strategic and analytic assistance to sponsors of employee benefit plans is now complemented by the administrative and outsourcing evaluation excellence of Hager Strategic,” said Tom Terry, CEO of The Terry Group. “Mike Hager and I have known each other for years and so this partnership is a natural.”
“Recent advances in the rapidly developing healthcare marketplace have been enormous—and employers are looking for the right mix of experience and expertise to assist them in charting their course through the various decisions and offerings,” said Mike Hager, founder of Hager Strategic. “Our long-standing commitment has been to helping employers make clear choices. The actuarial and financial implications of healthcare exchange decisions are central considerations, and so our commitment to helping companies make ‘clear choices’ will now be facilitated by the best-of-class actuarial expertise of The Terry Group.”
“Employers want to understand how exchanges will affect their plan costs, but they also want to know how their employees will be affected,” explains Tom Donlon, Principal with The Terry Group. “This is where our actuarial tool chest comes in. In-depth financial modeling coupled with rigorous employee impact analysis are central to supporting any good private exchange decision process.”
Evaluating private exchange proposals “involves way more than simply comparing administration vendors,” points out Faisal Saleh, a Hager Strategic Principal who, along with founder Mike Hager, leads the firm’s advisory services. Saleh, who has spent over 40 years in the health and welfare benefits business and is considered a pioneer of benefits administration technology, added, “While the administrative capabilities of the provider come into play, the financial value proposition is really critical.”
Terry added, “The coming together of the Terry and Hager teams creates a win-win for employers as well as the exchange providers. Everyone wins when decisions are made in the light of day.”