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This profile was last updated on 2/8/15  and contains information from public web pages and contributions from the ZoomInfo community.

Consulting Actuary

Phone: (312) ***-****  HQ Phone
Hewitt Associates LLC
200 East Randolph St.
Chicago , Illinois 60601
United States

Company Description: Our key advantage is our broad view of two of the most important issues in our economy today: risk and people. With an employee base of 59,000 people working in...   more
Background

Employment History

36 Total References
Web References
For example, according to John ...
www.seniorjournal.com, 12 Feb 2008 [cached]
For example, according to John Grosso, a consultant with the benefits firm Hewitt Associates, a traditional Medigap supplementary policy could cost employers $1,000 to $1,500 annually per retiree, while a private fee-for-service MA plan could offer a similar benefit for $300 to $600 annually.
Grosso said, "The big reason why those premiums are so low is because of the federal subsidy the plans are receiving behind the scenes."
America’s biggest employers, from GE to IBM, are increasingly moving retirees to insurance exchanges. | Frank West Insurance Services
frankwestinsurance.com, 10 Sept 2013 [cached]
Companies argue that many retirees can find more choice and a better deal on the exchanges, said John Grosso, head of the retiree health task force at Aon Hewitt LLC, a Chicago-based consultant. Instead of taking a one-size-fits-all company plan, a healthier retiree might find a less expensive policy with a higher deductible, or one that saved money by favoring generic drugs, he said in a telephone interview.
Less healthy workers or those who need more comprehensive coverage may not fare as well, Grosso said.
"The economics of providing traditional ...
www.insightforums.com [cached]
"The economics of providing traditional employer-sponsored retiree health coverage are changing, and employers are seeking the most cost-effective and tax-efficient delivery models," said John Grosso, a senior vice president in Aon Hewitt's Health & Benefits practice.
"We're talking to almost all of ...
www.businessinsurance.com, 4 April 2010 [cached]
"We're talking to almost all of our clients about what to do," said John Grosso, a Norwark, Conn.-based principal and actuary in Hewitt Associates Inc.'s health management consulting practice. "What they're going to be looking to do is reduce their costs. We don't see companies terminating their plans entirely. But they'll be looking for new ways to get retirees drug benefits that are cheaper than what they're paying today."
For example, Mr. Grosso expects some employers will do what General Electric Co. did in 2009. The Fairfield, Conn.-based company contracted with a Medicare-approved prescription drug plan offered to provide drug benefits to its retirees, thereby forgoing the subsidy.
An employer that chooses this route more than likely will do so on a self-insured basis because that often is more cost-effective, according to Mr. Grosso.
And because the PDP receives a larger federal subsidy than employers do, the cost of the coverage may end up being lower for those employers, he said.
Moreover, "from a participant standpoint, the group PDP could be relatively seamless," he said.
The other option, which may be a little more disruptive to retirees, according to Mr. Grosso, would be "to send retirees to the individual Part D market and provide a tax-free subsidy" to help them pay for it.
With such an approach, the employer contribution is generally deposited into a health reimbursement arrangement that retirees can use to pay their Part D premiums, as well as any other out-of-pocket medical expenses, Mr. Grosso explained.
For example, according to John ...
www.seniorjournal.com, 12 Feb 2008 [cached]
For example, according to John Grosso, a consultant with the benefits firm Hewitt Associates , a traditional Medigap supplementary policy could cost employers $1,000 to $1,500 annually per retiree, while a private fee-for-service MA plan could offer a similar benefit for $300 to $600 annually.
Grosso said, "The big reason why those premiums are so low is because of the federal subsidy the plans are receiving behind the scenes."
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