Individual Premium Billing
According to the US Census Bureau, roughly 60% of Americans have private group health insurance obtained through an employer. 9% have private individual health insurance, and 15% are uninsured. The remainder receive their health insurance through state or federal government programs. Given this market, most private health insurers in American have built and optimized highly efficient systems and processes to perform electronic group list billing. The world is shifting though with health care reform, and by 2019 30% or more of Americans will be in the individual private health insurance market. This is the world we grew up in – the hard to scale and process optimize world of individual subscriber billing in COBRA and Retiree Health Insurance. This is a world where premium payments are often made by personal check, varying subsidies abound, postmark dates on envelopes must be captured to adjudicate timeliness of payment, and partial payments & overpayments are as common as precise payments. The very core of our operational expertise is rooted in making individual subscriber billing and payment processing as efficient as it can be, and our SaaS products and Integrated Services have their foundations in this world.
Whether you’re a TPA or Association performing large scale retiree health insurance administration and billing or an insurance carrier seeking a highly efficient technology platform or service provider to optimize individual subscriber billing, this is the core of our expertise, and we have systems and services to help.
And…There are no large upfront fees for our SaaS technology or Integrated Services. In most cases where our Payment or Billing Services are provided in concert with SPMpoint, we simply earn a percentage of premium for each payment we process.
