Nationally-focused insurance agency will leverage Alegeus platform to power its private exchange, offering expanded support for individuals and small business groups
HealthPlan Express Selects the Alegeus Technologies Private Exchange Platform
<0> Alegeus Technologies, LLCJennifer Irwin, 414-699-5927orPAN CommunicationsNikki Festa, 617-502-4300 </0>
, the market leader in healthcare and benefit payments, today announced that , a national affiliation of medical and health insurance brokers, has selected the Alegeus platform to power its new private insurance exchange. Focused on individuals, families, and small businesses with less than 15 employees (sometimes referred to as ‘baby groups’), HealthPlan Express is launching its private exchange to capitalize on market opportunities resulting from healthcare reform.
By virtue of the individual insurance mandates and employer provisions set forth in the healthcare reform legislation, HealthPlan Express anticipates an increase in demand from newly-insured individuals as well as small employer groups making the transition from group to individual coverage. In launching its private exchange, HealthPlan Express aims to provide a legitimate alternative to public exchanges with a wider array of insurance plan and carrier options – including health, dental, vision, life, disability, and other ancillary insurance products. Critical to their success in this endeavor is the ability to offer an easy-to-navigate, online shopping experience, providing a comprehensive array of plan options, a robust plan recommendation engine and seamless online enrollment process – as well as the ability to support employer-funding models such as defined contribution.
“Healthcare reform has created significant uncertainty in the marketplace – but it is also creating significant opportunity for those organizations that are able to diversify and evolve their business to meet the needs of the market,” said Stan Naraine, a senior executive at HealthPlan Express. “Alegeus offers one of the most comprehensive private exchange platforms available in the market. We particularly value the flexibility of the platform in managing employer contributions and providing easy-to-understand plan recommendation, quoting and enrollment tools to support our participants. We are confident we have chosen the right technology partner to support this strategic initiative for our business.”
With WealthCare Marketplace, HealthPlan Express will be able to offer its customers a powerful recommendation engine to facilitate plan selection based on personal data inputs, the flexibility to manage employer contributions and provide progressive quoting throughout the shopping experience, and an intuitive online enrollment process to capture selections. Through integration with numerous carriers, the exchange will enable one combined, online enrollment experience for all plan types, including health insurance, dental, life and beyond.
“As a result of healthcare reform and the rise of insurance exchanges, the industry is transitioning from an employer-centric ‘wholesale’ model to a more consumer-centric ‘retail’ model,” said Tom Torre, Alegeus CEO. “With consumers in the driver’s seat, it’s critically important to provide them with intuitive tools to make health plan selection, enrollment and funding as easy as possible. We are excited to support forward-looking companies like HealthPlan Express as they evolve their business to respond to customer needs in this new retail marketplace.”
For more information on the Alegeus WealthCare Marketplace solution, please visit: .
HealthPlan Express (HPE) is a national affiliation of medical and health insurance professionals providing outstanding health insurance and other ancillary products to individuals, families, and small businesses - and service in most states. With extensive carrier relationships, HPE provides plan information and quotations from a variety of competitive insurance carriers. Leveraging their extensive network of local agents, HPE helps customers evaluate plan options, answer questions about pricing, provider availability, eligibility and other relevant details.
Alegeus Technologies is the market leader in healthcare and benefit payments – offering the industry’s most comprehensive platform for the administration of tax-advantaged benefit accounts (FSAs, HSAs, HRAs, MERPs, VEBAs, DCAPs and transit accounts), the industry’s most widely-used benefit debit card, and leading services for the outsourced management of claim payments and associated data exchange. Over 500 clients – including health insurance plans, third party administrators and financial institutions – leverage Alegeus’ deep expertise and proven technology to administer benefit accounts for more than 17.5 million members and process more than $18 billion in healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and focus on their customers. The company is headquartered in Waltham, MA with operations in Carrollton, TX, Orlando, FL and Milwaukee, WI. To learn more about Alegeus, please visit .