HealthSmart Introduces a Simplified Solution to Self-Funded Healthcare Benefits for Small to Midsized Employers that Also Provides a Cash-Back Feature

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HealthSmart is introducing an exciting new product aimed at helping small to midsized companies realize the benefits of self-funding. HealthSmart Insight Edge provides five premier benefit services in one integrated package for maximum efficiencies. It is designed to meet the needs of small and medium sized companies, with 25 to 200 employees, who currently offer a fully insured healthcare program and offers a very attractive cash-back feature for employers, should their claims come in lower than their maximum claim liability.

A Fast and Simple Start to Self-Funded Healthcare Benefits for Small to Midsized Employers

HealthSmart’s Insight Edge has the look and feel of a fully-insured group health plan but provides the clear advantages of self funding, with simplified billing and a cash-back feature, all of which helps deliver reduced costs to employers.

HealthSmart Holdings, Inc. (HealthSmart) is introducing an exciting new product aimed at helping small to midsized companies realize the benefits of self-funding. Branded as HealthSmart Insight Edge, this variation of the company’s fully-integrated HealthSmart Insight product provides five premier benefit services in one integrated package for maximum efficiencies and savings. HealthSmart Insight Edge combines deep discounts obtained through the HealthSmart Accel Network with industry leading Predictive Population Management, HealthSmart Rx’s Prescription Benefit Management services for reduced prescription expenses, and HealthSmart Benefit Solutions, Inc.’s superior administrative service. These components, coupled with an innovative reinsurance solution through a special arrangement with Pan American Life, rated A- (A.M. Best) and their aggregate-only stop loss product, create an innovative and cost-effective solution for potential self insurers.

HealthSmart Insight Edge is designed to meet the needs of small and medium sized companies, with 25 to 200 employees, who currently offer a fully insured healthcare program. This program also offers a very attractive cash-back feature for employers, should their claims come in lower than their maximum claim liability.

The maximum cost of this budgeted self-funded plan is very competitive with fully-insured options. Alex Arnet, Chief Sales Officer states, “HealthSmart’s Insight Edge has the look and feel of a fully-insured group health plan but provides the clear advantages of self funding, with simplified billing and a cash-back feature, all of which helps deliver reduced costs to employers.”

The new HealthSmart Insight Edge product is initially being introduced to the Texas market with subsequent rollouts planned for other strategic areas around the country during the fourth quarter of 2009 and the first quarter of 2010. Clay Timmons, Regional Vice President of Sales adds, “With HealthSmart Inside Edge we really are offering our customers a cutting edge solution to controlling healthcare costs and providing self-funded benefit success.”

About HealthSmart Holdings, Inc.
HealthSmart Holdings, Inc. is an innovative healthcare solutions company servicing over 1.75 million members and managing over $3.2 billion in claims through its subsidiary service operations around the country. HealthSmart provides integrated solutions on a single administrative platform to over 8,500 employer groups and partners through its wholly-owned healthcare related subsidiaries. The company’s products and services include benefit and workers compensation administration, nationwide preferred provider networks, care management and wellness programs, prescription benefit management, on-site primary care clinics, reinsurance and stop-loss management. HealthSmart’s mission is to improve member health, reduce costs and deliver “smarter” healthcare benefit solutions.

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Ralph Gill
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