With the passage of the Patient Protection and Affordable Care Act of 2010 (PPACA), both State governments and the Federal government are struggling to understand – never mind meet – the significant mandates to build, maintain and continue to expand Health Benefits Exchanges. As government leaders start the planning process, it is critical that they leverage expertise from individuals and organizations that have direct relevant operational experience with Health Benefits Exchanges and Private Marketplaces.
NFP Health is a leader in both these areas, with one of the longest operating private insurance marketplaces in the country through HSAInsurance.com, as well as direct expertise with the first full service public exchange, the Commonwealth Connector Authority in Massachusetts. The Connector is the recognized model for national healthcare reform, with services offered to subsidized residents, individuals, families and small groups.
Federal reform, as well as Massachusetts reform, requires that states provide their citizens with a health benefits exchange in which small groups, individuals and families can shop for and buy health insurance. While all states have had a long history of experience in subsidized programs such as Medicaid and Child Health Insurance Programs (CHIP), this expansion into the domain of private insurance is something new and difficult to master. More importantly, if there are existing privately-operated programs to support a state’s health benefits exchange requirement, millions of dollars can be saved.
The NFP Health Benefits Exchange offers a turnkey approach for states to meet these new federal requirements. Our exchange has been operating for more than 40 years, bringing individuals and small businesses together with brokers and insurance carriers to provide the best possible health care options. We have the technology, processes and services to meet all requirements of an American Health Benefits Exchange as outlined in the Patient Protection and Affordable Care Act, including direct experience with subsidized programs. In fact, NFP Health has written a white paper on its experience integrating a state subsidized program into its enrollment and billing system.
Our solution has evolved over the past several decades, and continues to be refined with the expertise of several industry leaders who have joined our team. NFP Health is led by the same team that designed, built and delivered the core services for the Commonwealth Care program, Massachusetts exchange for subsidy-eligible residents.
The technological components of our exchange are already built, and have a proven track record of quality delivery. We have created robust interfaces with our carriers, allowing the exchange of plan benefit information, rating data and enrollments. We have a financial engine that has billed more than $5 billion in premiums. Our operation generates more than 1 million quotes for insurance each year, and we serve over 150,000 lives. Our solution supports individuals, families, employees, employers, brokers, trade associations and of course state government. In light of the challenges faced by states: limited budget dollars, stretched resources and a very aggressive timeline for implementation, NFP Health is the right choice as a comprehensive state health benefits exchange.
Weigh the benefits of the NFP Health Benefits Exchange option – a proven solution, low cost implementation, decades of experience vs. a sudden influx of new products from companies big and small, and we think both state governments embracing ACA and those carriers connecting to Healthcare.gov at the Federal level, will agree there is no better choice.