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Softheon to Provide Exchange Integration Solution to Transition Health Republic Insurance Company to the FFM
|By PR Newswire
|August 11, 2014 06:11 PM EDT
STONY BROOK, N.Y., Aug. 11, 2014 /PRNewswire/ -- Softheon, Inc., a proven leader in health insurance marketplace integration and business operation, announced today that Health Republic Insurance Company (HRIC) has chosen the Marketplace Connector Cloud (MC2) as their software platform that will integrate and transition its comprehensive plan offerings for individuals and SHOP plans, both on and off Exchange, to the Federally Facilitated Marketplace (FFM). HRIC is a non-profit Consumer Oriented and Operated Plan (CO-OP) and member of the National Alliance of State Health Co-Ops (NASHCO), which serves Oregon-based members.
Softheon MC2 will be utilized to integrate HRIC's Plan Catalog Management, Eligibility & Enrollment (including electronic Direct Enrollment Consumer portal), SHOP, Premium Billing, Edge Server, and other consumer service solutions through leveraging its Facets core administrative system, without the need to "rip and replace" existing IT investments. This partnership will focus on enhancing HRIC's multi-channel distribution and outreach channels, while aiming at enhancing the user experience of its members and brokers.
"We're confident our members will significantly benefit from our move to the Federal Exchange and we are pleased to have Softheon as a valued partner and ongoing resource during this transition," said Health Republic president and CEO Dawn Bonder.
Softheon MC2 is a Software-as-a-Service (SaaS) solution that serves as the integration platform between both State and Federally Facilitated Marketplaces, as well as, all existing business processes and IT systems for both Public and Private Exchanges. The Softheon MC2 platform offers Plan Catalog Management, Eligibility & Enrollment, SHOP, Premium Billing, Customer Service, and Edge Server solutions. Softheon MC2 is compatible with multiple carrier core systems, including TriZetto Facets, QNXT, DST Amisys, HealthEdge, ikaSystems, and EPIC.
Eugene Sayan, Founder & CEO of Softheon, concludes "We could not be more excited to be working with the team at Health Republic." "The work Co-Ops are doing around the country is truly extraordinary. We are honored that HRIC has chosen Softheon as a trusted technology partner as they deliver high quality health coverage to Oregonians."
As of May 12, 2014, Health Insurers have enrolled and effectuated over 400,000 lives through ACA Federal and State Based Marketplaces using the Softheon MC2 platform. Softheon MC2 is fully integrated with Federal and State Based Marketplaces, including California, Washington, Massachusetts, New York, and others. This innovative integration platform provides Insurers the ability to have marketplace infrastructure and processes up and running in less than 90 days, with minimal risk and full PPACA regulatory compliance.
Softheon is uniquely qualified as the technology platform used by the nation's first full-service state health benefit exchange, since 2008. During the initial testing and implementation of marketplaces, Softheon participated in pilot federal and state programs, including the CMS Direct Enrollment connectivity and carrier wave testing-successfully effectuating marketplace members with multiple carrier core systems. Softheon was also chosen, as the sole vendor, to participate in the CMS Data Baseline Beta Test Program where all Softheon MC2 clients successfully established an enrollment baseline with CMS. Softheon recently announced their recognition as the, "leading Cloud Platform for Public & Private Exchanges," by iMERGE Consulting, an independent research and consulting firm assisting States and Health Insurers with ACA challenges as well.
Health Republic Insurance (HRIC) is a Consumer Operated and Oriented Plan, or CO-OP, serving Oregonians. Health Republic was created in 2012 to get back to the roots of insurance: bringing people together to build a collective voice that advocates for the health and wellness of its members over profits. Health Republic Insurance began enrolling members in October 2013, for coverage beginning Jan. 1, 2014. The CO-OP offers individual and SHOP plans on Oregon's state-sponsored marketplace.
Empowering the nation's first state health benefit exchange since 2008, Softheon's vision and strategic direction addresses healthcare payer, provider, and government agencies' goal of meeting Affordable Care Act (ACA) milestones. Softheon provides solutions for interacting with Federal and State Health Insurance Exchange (HIX) Marketplaces, while measurably reducing administrative costs, improving member and provider satisfaction, as well as, addressing regulatory compliance challenges in all managed care administrative processes.
Softheon's Marketplace Connector Cloud (MC2) has been trusted by over 40 health plans 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 compliance of 2014 enrollment and other mandates.
To find out more about the Softheon, visit www.softheon.com.
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