Softheon Effectuates Record Number of 2016 ACA Passive Renewals and Introduces A New Private Exchange for Brokers, Members, and Employers Looking For Subsidized Coverage
STONY BROOK, N.Y. November 3, 2015 – Softheon, Inc., a proven leader in health insurance marketplace integration and a certified Web Broker Entity, has announced that it has remediated and achieved a 94% effectuation rate for 2016 ACA Passive Renewals for insurers running on Softheon Marketplace Cloud Connector (MC2). Open Enrollment began on November 1st, 2015, and will run through January 31st, 2016 for all marketplace consumers. HHS recently estimated that there will be 9.4-11.4M exchange enrollments for 2016 – which is below the Congressional Budget Office’s (CBO’s) March estimate of 21M. Softheon forecasts that the real number will be around 15M in 2016. ACA membership – along with fully integrated enrollment and premium billing payment platforms, and comprehensive BPO support for insurers – will remain a critical success factor in 2016.
“Having been recognized as the pioneer of a cloud-based remediation platform to manage exceptions and the removal of bad data in ACA enrollment and billing transactions, we are privileged to be working with over 50 innovator health plans. We pride ourselves on delivering flexible enrollment, premium billing, and payment workflows, as well as greater integration between core administration processes, insurance exchanges, and consumer-facing solutions such as VISA, MasterCard, AMEX, or PayPal,” stated Eugene Sayan, Softheon CEO & Founder.
To date, Softheon has been trusted by over 50 Carriers for everyday management of over 1,000,000 lives on the ACA, plus Individual & Family, Small Group, and Large Group markets for On & Off Exchange.
- Federal & State based Marketplace (834) Integration
- Premium Billing & Payment (820) Reconciliation
- Direct Enrollment
- CMS Edge Server
- Private Exchanges
Softheon also announced the availability of its Welltheos private exchange platform for Brokers, Employers, and Individuals seeking subsidized insurance without the hassle of healthcare.gov . Licensed brokers and agents are encouraged to register with Welltheos at no cost in order to streamline their enrollment activities and grow their exchange business. Welltheos’ expertise in enhancing the consumer shopping experience combined with Softheon’s proven technology equals an unmatched user experience (UX).
“Over 10,000 brokers have registered and we activated 2,500 brokers on the Welltheos portal within the first 30 days. We strongly believe the broker community, which has been neglected by the ACA, is an integral part of the landscape and we want to give them every opportunity to enroll their subsidy eligible population,” added Daniel Hughes, Business Development Manager Broker Solutions.
Features for Brokers and their clients:
- Personalized Storefront: A customized portal with a clear and easy to navigate UX, allowing Brokers to take their business online – with a unique URL.
- Instant Online Quotes: Welltheos provides online quotes in seconds with a side-by-side comparison of benefits and pricing
- Subsidy Calculator: Clients will receive real-time subsidy estimates from within the Broker’s Account.
- Anonymous Shopping Tool: Potential Clients are free to search for the perfect health plan with no obligations. The Shopping Tool features a variety of consumer decision support tools, including real-time eligibility determinations, and subsidy estimations.
- Direct Enrollment: Welltheos features an intuitive User Interface, responsive design, and the quickest enrollment process on healthcare.gov.
- Manage Accounts: Along with Broker help support, a Broker has the ability to setup and manage clients from a personalized domain. There, a Broker can provide instant quotes, track applications from multiple carriers, and manage a sales history.
Welltheos is an easy-to-use, private exchange platform to enhance the consumer experience, while offering brokers and agents the tools needed to power their enrollment activities and grow their business. Welltheos is the single largest health insurance portal with 28,700 qualified health plans from 239 issuers. For more information, visit www.welltheos.com
Empowering the nation’s first state health benefit exchange since 2008, Softheon’s vision and strategic direction address healthcare payer, provider, and government agencies’ goal of meeting Affordable Care Act (ACA) milestones. Softheon provides HIX Integration, Direct Enrollment, Premium Billing, and Edge Server solutions for insurance carriers of all sizes participating in Federal and State Health Insurance Exchange (HIX) Marketplaces. Softheon’s Marketplace Connector Cloud (MC2) has been trusted by health plans in all 50 states as an accelerated federal, state, and private exchange integration platform. Softheon MC2 is a Software-as-a-Service (SaaS) solution where insurers pay a one-time activation and ongoing PMPM fees for exchange members only, while eliminating most, if not all, risks associated with ACA enrollment compliance and other mandates.
To find out more about Softheon, visit www.softheon.com.
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