Ray Wimer, professor of retail practice in the Whitman School, was interviewed for the International Business Times piece “Can JC Penny Perform a Magic Act As It Emerges From Bankruptcy?” Wimer, an expert on the retail industry, says that the…
POMCO Group selected as new administrator for Syracuse University’s medical plans
Syracuse University has selected POMCO Group to administer its medical plans. Effective Jan. 1, 2009, POMCO will serve as the medical benefits administrator for the more than 5,500 employees, graduate assistants and retirees enrolled in medical coverage through SU.
Headquartered in Syracuse, POMCO Group is one of the nation’s largest independent professional benefits managers for self-insured medical, workers’ compensation and disability benefit plans.
Effective for 2009, the University will offer a new medical plan option, also to be administered by POMCO. The new deductible/co-insurance-based plan is expected to have lower premiums than either of the University’s current plans and will complement SU’s current offerings by providing an additional healthcare coverage option to employees and their families.
“The selection of POMCO as the administrator of our plans is the result of a consultative approach involving various campus constituencies,” says Neil Strodel, SU associate vice president and chief human resources officer. “The decision was based on many factors, including POMCO’s strong financial offering, dedication to customer service, reputation in the Syracuse community and flexibility in accommodating the unique needs of the University and its members.”
“We’re honored to have been selected by the University and look forward to partnering with them to create a flexible service solution that best meets the University’s needs,” says Don Napier, POMCO senior vice president and chief operating officer. “Our ability to deliver custom solutions while providing proven results for our clients has allowed us to create a unique niche in the professional benefits administration industry.”
The process of choosing a new medical benefits administrator began in late fall 2007 as part of the Office of Human Resources’ annual review of the University’s benefits. The University employed Hewitt Associates, a nationally recognized employee benefits consulting firm, to assist in the project. In past years, Hewitt has consulted with SU on improvements to the University’s retiree medical plan and prescription drug plan.
Hewitt conducted a comprehensive request for proposals, which culminated in the University choosing four finalists to interview for the administration of its plans. As a result of these interviews, as well as feedback from University advisors, POMCO was selected by the University’s administration.