hCentive Launches WebInsure Benefits, a Private Exchange Designed for Large Brokers and Employers

RESTON, Va., Oct. 7, 2014 /PRNewswire/ -- hCentive, the leader in health insurance exchange technology, today announced the release of its latest product, WebInsure Benefits, a multi-carrier, multi- product platform that is designed to provide a comprehensive private exchange solution to large brokers and employers. Already an established industry leader that provides technology solutions that reduce complexity and ensure compliance for state health agencies and insurers, hCentive now offers a robust private exchange platform that enables large brokers and employers to seamlessly manage multiple benefit strategies while working with a range of leading carriers.

"We're excited about the opportunity to expand into this market and deliver our solution to leading businesses. Accenture Research shows that by 2017, nearly 1 in 5 Americans will purchase benefits from a health insurance exchange.  We expect to be a leader in this market segment and project we will grow rapidly and drive significant volume," said Mike Baker, SVP & GM of WebInsure Benefits at hCentive. "In addition, we know this market. We have provided a payer-focused private exchange product for the past several years. Our deep understanding of the market has allowed us to develop an exchange based on proven technology that provides an exceptional user experience."

As the private health exchange market grows, WebInsure Benefits will allow large brokers and employers to meet the associated strategic and administrative challenges while taking advantage of new opportunities and improving member satisfaction. A cloud-based, HIPAA-compliant platform, WebInsure Benefits integrates with the federal marketplace and state-based exchanges so employers and brokers can seamlessly manage large groups with a diverse employee population.

WebInsure Benefits features an employee/individual portal which guides users through the eligibility determination for on and off exchange plans, plan shopping with decision support and enrollment processing. An employer portal helps plan administrators facilitate the enrollment process, including new enrollments and renewals as well as plan changes across multiple plans and contribution strategies. A broker portal allows agents to deliver world-class service to customers and prospects and track and manage clients at every stage of the sales pipeline, and a carrier and exchange administration portal enables carriers to load and manage health plans.

With a strong track record of exchange marketplace success that sets the company apart in the industry, hCentive looks forward to launching during this open enrollment period in order to improve member satisfaction and streamline administration with its groundbreaking WebInsure Benefits platform. To learn more about hCentive and WebInsure Benefits, please visit http://www.hcentive.com/.

About hCentive:
hCentive is in the business of simplifying the complex world of health insurance. hCentive provides technology solutions for health insurers and state health agencies. These solutions help them reduce cost and administrative complexity, while enhancing relationships with their customers. 

hCentive is the first organization to build an exchange solution from the ground-up post the Patient Protection and Affordable Care Act of 2010 (PPACA). hCentive has developed a deep understanding of healthcare reform and has crafted solutions and services that align with federal and state regulations and meet or exceed all industry standards. 

The WebInsure State platform helps states create a health benefits exchange to comply with health insurance exchange requirements of the PPACA. The WebInsure Exchange Manager provides a complete connectivity solution for health plans to connect to State Exchanges. Our comprehensive billing solution, WebInsure Financial Management, provides the next generation in financial management, enabling organizations to modernize their operational procedures and move member-facing processes toward a retail-centric business model. The hCentive WebInsure Private Exchange platform allows health plans to offer defined contribution plan marketplace to small business customers. The hCentive WebInsure Medicare platform helps health insurers cost-effectively acquire and manage Medicare and small business customers.

SOURCE hCentive