Workable Solutions Takes Insurance Exchanges to the Next Level

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Workable Solutions, a veteran in insurance exchanges, announced the upcoming release of it's latest exchange platform that will set the standard for all future exchanges. The new exchange project will combine a multitude of defined contribution options with a recommendation engine to ensure participants are matched with an ideal health plan.

Health Insurance Exchange
Our exchange tools create more informed consumers and that fosters higher satisfaction.

Most of the general population is just becoming familiar with health insurance exchanges (HIX) because of the passing of the Patient Protection and Affordable Care Act (PPACA) that requires each state to administer one, but insurance exchanges have a much longer history. Workable Solutions has been a part of that history since 1997 and continues to influence the evolution of private health insurance exchanges.

Workable Solutions’ latest endeavor, scheduled to be released late this summer, is sure to be a turning point for health insurance exchanges going forward. Their latest web-based platform is designed to combine the best features of online shopping with the latest employee benefits solutions. The new exchange solution is called Workable Choice.

Different than the exchanges of yesteryear, recommendation engines use profiling questions and filtering to recommend plans that are custom-tailored for each individual based on health status, family composition, financial situation and risk tolerance. 

Terry McCorvie, now president of Workable Solutions, was the executive director of the Community Health Purchasing Alliance (CHPA). CHPA was one of the first quasi-governmental exchanges in the mid-1990s. “Back then we were dealing with mountains of paper and that prevented the Exchanges from being efficient.” McCorvie says. “With today’s technology tools, consumers can narrow available plans to find the best match and complete their enrollment in less than 15 minutes.”

Workable Choice will seem lightyears ahead of those first insurance exchanges of the 90s. The exchange model of Workable Choice is one that allows the comparison of quality and access, not just prices. The thoughtfully prepared user interface allows users to control the experience. Users that want to know all the details of the plans can utilize the educational resources, while the users who want to sign up for their benefits as quickly as possible can still be matched with an appropriate plan very quickly.

Employers will also appreciate all the features of a modern exchange. Workable Choice presents employers with online billing and electronic payment options that allow employers to make one monthly payment, no matter how many different insurance plans are selected by their employees. Workable Choice also tracks defined contributions from employers that employees use to make purchases through the exchange. The defined contribution exchange helps employers set a fixed employee benefits budget.

Workable Choice offers benefit products beyond health insurance. The product mix can include tax-advantaged savings options like health savings accounts and flexible spending accounts. Workable Solutions’ technical team uses advanced database development tools to provide a single point of education, selection and enrollment for the full menu of available benefit options. This ensures optimal functionality and allows the insurance exchange to be completely customized to meet the needs of the client. “Health insurance is complicated enough. We firmly believe our tools for exchanges create more informed consumers and that fosters higher satisfaction.”

Workable Solutions is based in Orlando, FL and provides a full array of employee benefit solutions including HSA, HRA, FSA and commuter accounts, COBRA administration, benefits administration outsourcing, defined contribution solutions, and health insurance exchange technology and administration. Their Workable Choice Exchange application provides plan selection assistance, comparison-shopping technology, eligibility management, enrollment, consolidated billing, and more. Workable also offers a myriad of defined contribution options, which allow employers to control their employee health care costs while giving their employees greater choice and flexibility.

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Terry McCorvie
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