GALVESTON, Texas, Oct. 21, 2011 /PRNewswire/ -- Standard Life and Accident Insurance Company (SLAICO) and Hammerman & Gainer (HGI) announce a new partnership combining SLAICO's new group limited medical product, UltiCare and Hammerman and Gainer's ClaimPay MasterCard for the real-time payment of claims at the point of care.
SLAICO has historically been an innovator in providing various lines of health coverage including their new UltiCare limited medical insurance product with claims administered by HGI, a third party administrator. The UltiCare plan provides first dollar coverage for common occurrences such as doctor visits, labs, x-rays, and inpatient or outpatient surgery. In addition all plans include a critical illness benefit and provide prescription drug benefits insured through other carriers.
By utilizing the ClaimPay platform, the experience for both the member and the provider at the point of care is simplified by allowing payment of the insurer's portion via the member's ClaimPay MasterCard. For those claims that can be determined as immediately payable, providers that accept MasterCard can process transactions by simply having the patient swipe the card after the claim is processed. The funds are loaded real-time to the patient's MasterCard, which can only be used for medical services. In these situations, there are no claim forms for the consumer to submit and no bills from the doctor requesting the insurance company's portion of the payment after the patient has left the office.
Revolutionizing the Medical Claims Process
The ClaimPay solution merges the financial transaction and claims adjudication process into one seamless transaction. Once submitted through the ClaimPay.com portal, network discounts are applied and the claim is adjudicated almost instantly. In fact, medical providers can view if their reimbursement is available from the insurance company within 11 seconds.
Mark Keck, President of the Healthcare Division at Hammerman & Gainer noted, "Standard Life and Accident's utilization of the ClaimPay MasterCard coupled with their high touch customer service model will accelerate the consumer adoption process. We believe our partnership will increase awareness of these programs to help offset growing consumer out of pocket costs."
The ClaimPay MasterCard card is issued by Bancorp Bank.
For information on the MasterCard ClaimPay platform, contact Mark Keck at [email protected] or 800-929-9525 extension 601.
For information on Standard Life and Accident products contact Standard Life Marketing at 800-514-2080 or [email protected].
SOURCE Standard Life and Accident Insurance Company