Employers can give their employees a set amount of money and then direct them to a private exchange. There, they can shop for a health plan and other benefits, like dental, based on what the employer has selected as options.
Safeco sale 'bittersweet,' says CEO Reynolds. By DAN RICHMAN, P-I REPORTER. Selling Safeco Corp. was a bittersweet moment, Chief Executive Paula Reynolds said Wednesday, after the announcement that Boston's Liberty Mutual Group will buy the 85-year-old homegrown insurer for $6.2 billion in cash.
The 31-year-old said he was 'in shell shock' and was relieved after the company's CEO Mark Bertolini agreed to pay out - despite the company telling him there would be a cap on his medical insurance policy. 1  In remission: Arijit Guha, an Arizona State University doctoral student, said he was in 'shell shock' at the decision.