Softheon Marketplace-as-a-Service to Provide Enhanced Enrollment Experience for All Americans Seeking Affordable Insurance with Federal Premium Tax Credits
CMS-Approved Enhanced Direct Enrollment (EDE) serving 100% of consumers in the Federally-facilitated Exchanges seeking individual health insurance coverage
STONY BROOK, N.Y. September 12, 2019 –Softheon, a national leader in cloud-based health insurance exchange integration, announced today that the Centers for Medicare & Medicaid Services (CMS) approved them as one of the leading Phase 3 Enhanced Direct Enrollment (EDE) vendors. Softheon’s private-label Marketplace-as-a-Service enrollment solution creates a seamless enrollment experience for 100% of members seeking individual market coverage, including those seeking a tax credit, through the Affordable Care Act (ACA). Softheon’s EDE solution is now available to any health insurance carriers, broker agency, or association engaged in the federal ACA Marketplace once they inform CMS that they are partnering with Softheon as their EDE partner.
EDE is making it easier for consumers to purchase health coverage with federal premium tax credits thru a seamless process. “Today’s consumers expect convenience, and once any friction is introduced, they are less likely to follow through with their purchase.” explains Kevin Deutsch, Managing Director at Softheon.
To achieve Phase 3 EDE, Softheon went through a detailed, multi-step audit process mandated by CMS. “With EDE, any health insurance carriers, broker agency, or association can expect to achieve a higher conversion rate of potential members visiting their plan shopping portals,” said Eugene Sayan, CEO and founder of Softheon. “This update allows consumers to stay in one vertically integrated marketplace, reducing the friction caused by multiple sites for messaging, notices, plans and more.”
To provide this improved consumer experience, Softheon uses CMS’s application program interfaces (APIs) to communicate with HealthCare.gov behind the scenes, allowing consumers to stay on the company’s website to enroll, while still receiving premium tax credits and cost-sharing reduction payments. Softheon’s Phase 3 EDE solution handles eligibility determinations for 100% of consumers
Since our founding in 2000, we have been on a mission to make health care affordable, accessible and plentiful for individuals and employers. As an Agent-of-Record, Broker-of-Record, and Merchant-of-Record for healthcare issuers, brokers, employers, and consumers, we have been solving complex health insurance distribution and service challenges. We have been consistently recognized as a leading SaaS, BPaaS, and PaaS provider by Gartner, IDC, AHIP, ACAP, and HCEG. In 2018, we were ranked the 23rd fastest growing company in the United States on Deloitte’s Technology Fast 500.