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.
Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. The merger will create a network that includes more than 2,400 stores, 27 distribution facilities and 20 manufacturing plants with more than 250,000 employees. No closures are expected to result from the merger. Albertson's CEO Bob Miller released the following statement in regards to the merger agreement: