TAMPA, Fla., May 5, 2014 /PRNewswire/ -- HealthPlan ServicesSM (HPS), the nation's leading technology, sales, retention and administrative services provider for the insurance and managed care markets, announced today its clients' successful enrollment of 2 million members during the inaugural Health Insurance Exchange open enrollment period. Leveraging its Go-To-Exchange SM platform, a comprehensive suite of services designed to streamline carrier participation in insurance marketplaces, HPS supported its insurance carrier clients with enrolling approximately 20% of the 8 million total members reported by CMS who signed up and paid for coverage via a state or federal exchange.
"We are thrilled to be able to help facilitate the number of new members our clients gained during this first public exchange open enrollment period. It is a significant milestone for our clients and HPS," said HPS President and CEO Jeff Bak, noting that HPS also experienced significant growth in premiums for its private exchange clients. "We are now focused on the next stage, rolling out strategic programs to engage, support and retain these new members while enhancing our platform and tools to ensure the next open enrollment period is even better than the first."
Like its carrier partners, HPS has experienced a demand for Health Insurance Exchange services that far exceeded expectations. To keep pace with demand for its Go-To-Exchange platform, which was among the first to complete a fully effectuated individual enrolled into a Qualified Health Plan on a Federally Facilitated Marketplace website, HPS underwent a significant operational expansion, enhancing its technical infrastructure and adding a new state-of-the-art facility to accommodate the increase in staff.
"We are prepared to not only support the new members who have already enrolled with our carrier partners, but also the additional individuals who will enroll in November's Open Enrollment for 2015 and take advantage of the next opportunity to secure coverage for 2015," said Bak. "We remain committed to providing our clients with the innovative services and high-quality customer support they need to succeed in this new era of healthcare."
HPS' Go-To-Exchange platform enables carriers to successfully manage the administrative and technical aspects of State and Federal marketplaces. It leverages HPS' proven best practices and advanced web-based technologies to deliver industry-leading capabilities and operational efficiencies that maximize participation in the insurance exchange market. By integrating seamlessly with a wide range marketplaces and third-party systems, Go-To-Exchange enables carriers to rapidly and cost-effectively launch and operate in multiple environments.
As part of Go-To-Exchange, HPS offers a number of services to address the technical and administrative needs of carriers participating in public and private insurance exchanges. ExchangeLinkSM facilitates the technical connections necessary to link carriers to exchanges. SalesLinkSM supports customer acquisition, enrollment and welcome letter issuance and ServiceLinkSM provides in-force administration, member billing, tax credit/subsidy collection, premium reconciliation and customer service, while LoyaltyLinkSM delivers improved retention through advanced analytics, market analysis, cross-selling and renewal plan option during open enrollment, while
About HealthPlan Services
HealthPlan Services (HPS) is the largest independent provider of sales, service, retention and technology solutions to the insurance and managed care industry. Since 1970, HPS has offered customized administration and distribution services to insurers of individual, small group, voluntary and association plans, as well as valuable solutions to thousands of brokers and agents. HPS' proprietary, scalable technology provides innovative consumer-facing solutions that are turnkey self-service tools for insurance carriers and distribution partners. HPS offers an ever-expanding array of services to a diverse and growing client base, and administers products that include medical (PPO, HMO, indemnity, consumer-driven), dental, vision, life, disability, cancer, critical illness, accident, long-term care, limited medical, as well as various other ancillary insurance. HPS is committed to providing extraordinary service to its customers. For more information about HPS, visit www.healthplan.com.
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