Lockton Companies' employee benefits division has partnered with SelectQuote Benefit Solutions to launch a private insurance exchange for retiree medical benefits called Lockton Select Marketplace.

The partnership will allow Lockton to offer what it bills as state-of-the-art decision support tools and end-to-end communications and an array of carrier partners to its clients' retirees.

Lockton will offer the private health insurance exchange to its employer clients who serve retirees. People over age 65 and any disability Medicare recipients will now have access to Medicare Supplement, Medicare Advantage and prescription drug plans through the marketplace.