Navigation Links
HealthEquity Partners with State of Utah to Launch Pilot of Utah Health Exchange
Date:1/27/2010

Healthcare Financial Services Leader Provides Payment Platform for Utah’s Answer to Health Care Reform

Salt Lake City, UT (Vocus) January 27, 2010 -- HealthEquity, a leader in healthcare financial services, has been selected by the State of Utah to provide payment-processing solutions and HSA administration for the Utah Health Exchange, an Internet portal that is the cornerstone of Utah’s approach to Health Care Reform. The Utah Health Exchange is the result of state legislation passed into law that mandated the creation of a health insurance "marketplace" that connects consumers to a single shopping point where they can evaluate insurance options in a standardized format and make informed health plan purchasing decisions. The Utah-type of Health Exchange is anticipated to be a part of any federal health reform legislation that may be passed in the near future.

As part of their approach to Health Care Reform, the State of Utah in conjunction with selected firms within the private sector has developed and launched the web-based Utah Health Exchange. More than a dozen companies and over 500 members are currently enrolled in the pilot-phase of the Exchange which has these core functions: 1) provide consumers with transparent information about their health care options, 2) provide a mechanism for consumers to compare and choose a health insurance policy that meets their needs, 3) provide a standardized electronic application and enrollment system and, 4) provide guaranteed-issue, tax-deductible insurance choices for small businesses. Additional employer groups will be able to register in the spring and summer of 2010, following the limited launch.

HealthEquity’s role within the Exchange is as the banking solutions provider, which includes the collection of premium payments from employers, risk factoring and disbursement of payment to health plan partners based on product selection and allocation of risk. HealthEquity also is providing additional access to premium-only plans (POP plans) and health savings account (HSA) administration where applicable.

“We are in the middle of discussion and debate over national health care reform that potentially affects citizens at a national level,” stated Steve Neeleman, CEO of HealthEquity, “However, we are particularly excited about helping the State of Utah develop a solution that is innovative, effective and works for businesses and citizens of Utah.”

“The Utah Health Exchange is a critical component in moving the State of Utah towards a consumer-based system that is funded through a combination of defined-contributions by employers, community groups, employees and other funding sources,” said Norman K Thurston, Ph.D. Health Policy & Reform Initiatives Coordinator for the State of Utah. “We believe that HealthEquity has demonstrated themselves to be an exemplary partner that we can rely on in delivering this critical component.”   

By statute, all health plans offered through the Exchange must meet federal standards for employer-sponsored coverage; thus, participating employers and their workers can be confident the insurance they choose will be quality coverage from responsible carriers. Furthermore, it is expected the element of consumer choice in this market will put downward pressure on prices and while simultaneously putting upward pressure on quality. This combination constitutes the most effective means whereby consumers may maximize value in their health coverage. Utah’s Health System Reform bill, House Bill 133, originally passed in early 2009, and was sponsored by House Speaker David Clark and current Lieutenant Governor Greg Bell.

Contact:
John J. Sweeney
VP, Marketing
801-727-1019
www.healthequity.com

# # #

Read the full story at http://www.prweb.com/releases/HealthEquity/Utah_Health_Exchange/prweb3524164.htm.


'/>"/>
Source: PRWeb
Copyright©2010 Vocus, Inc.
All rights reserved  

Related medicine news :

1. Regence Partners with HealthEquity to Offer a Full Suite of Health Care Accounts
2. HealthEquity, a Leading Healthcare Account Administrator, Licenses Thomson Reuters Information Solutions to Help People Make Better Healthcare Decisions
3. HealthEquity, Inc. Extends Industry Leadership with Appointment of New Chairman
4. Edgewood Partners Insurance Center Enhances Customer Support And Streamlines Processes Using Sofrront CRM
5. Medicine-On-Time Partners With QuickMAR to Streamline Medication Management and Improve Patient Care
6. Boston Celtics Captain Paul Pierce Partners with Switch2Health to Inspire Youth to Lead Healthier Lifestyles through Innovative Rewards-based Fitness System
7. Male Abusers Often Sabotage Birth Control With Partners
8. Bizmatics and RevenueXL Announce Partnership to Offer Electronic Medical Records and Practice Management Software and Account Receivables Management Services
9. Save the Children Partners with AmeriCares to Treat More than 85,000 Haitians
10. UCLB announces new partnership with Kurma Biofund
11. ChildFund Partners With Christian Blind Mission in Haiti
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
HealthEquity Partners with State of Utah to Launch Pilot of Utah Health Exchange
(Date:2/10/2016)... ... February 10, 2016 , ... Early this week, Team Iconic at J. Walter ... KITKAT as the first global confectionery brand sourced from 100% sustainable cocoa. , The ... of their product, through activities that focus on better farming, better lives and better ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... to expand dental health services to the developmentally disabled in the Coachella Valley. ... operations to a new facility at 71-949 Highway 111, Suite 100-B, in Rancho ...
(Date:2/10/2016)... ... February 10, 2016 , ... InDemand Interpreting , a ... partnered with Heart City Health Center to improve access to language ... City Health Center has provided the Elkhart community with access to high quality, ...
(Date:2/10/2016)... ... 10, 2016 , ... The Wickman Agency in Garland, TX ... local community. Pledging to select a new beneficiary every 60 days, the agency ... goal is to bring community awareness to important local causes by forming campaigns ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... his office is now offering a variety of comprehensive procedures for facial enhancement. ... lift, facial volume restoration, lip enhancement and nasal reshaping. , As a ...
Breaking Medicine News(10 mins):
(Date:2/10/2016)... -- The ALS Association, in partnership with ALS Finding a Cure, ... biomarker to track TDP43 aggregation. The successful team(s) with the ... investment. --> --> ... in the brain and the spinal cord. Eventually, people with ... which often leads to total paralysis and death within two ...
(Date:2/10/2016)... -- LexisNexis® Risk Solutions, a leading provider of data, ... LexisNexis Provider Performance Monitor , a clinical ... the quality and efficiency of provider networks through ... measuring provider performance through Provider Performance Monitor, payers ... improve the patient experience and reduce costs, as ...
(Date:2/10/2016)... SPRINGS, Florida , February 10, 2016 ... Pharmaceuticals, Inc. (NASDAQ: ADMS ) and Celldex Therapeutics, Inc. ... Inc. (NASDAQ: MDVN ), Adamas Pharmaceuticals, Inc. (NASDAQ: ... --> Today,s latest Orphan Drug Designations become vitally ... by the FDA to novel drugs and biologics which are ...
Breaking Medicine Technology: