With Picwell’s package-based recommendations, we can now offer individualized recommendations to our customers and their employees that take into account their unique needs and can guide them in decision-making across health care, HSA and insurance options to make the right choices for their family.
PHILADELPHIA (PRWEB) October 23, 2018
Picwell, Inc., provider of the most advanced predictive decision support engine for consumer and employee health plan selection, has launched a package-based recommendation offering for its predictive decision support tool. The new feature provides a more holistic view of the available benefits to aid consumers in choosing the best benefits for their unique needs.
Picwell is now able to package primary health care, with health savings account (HSA) recommendations, and ancillary and voluntary insurance recommendations, including hospital indemnity, critical illness and accident insurance.
Picwell utilizes artificial intelligence – using billions of pieces of data about people’s demographics, health, and personal preferences – and then compares this to other “people like them” in order to create individualized cost and risk curves that are at the core of what differentiates Picwell from other decision support tools. Picwell’s recommendations help predict anticipated health care costs based on anticipated utilization and provide guidance around the best packaged set of benefits for every individual who uses their tool.
Empowered will be the first company to integrate the Picwell package-based recommendations feature into its health care enrollment software, with rollout expected for the 2019 benefits season.
“Consumerism in health care is becoming the norm as more employers include a high-deductible health plan option or offer only HDHP-like plans. Consequently, consumers need a mechanism to understand how to maximize their benefits, cover health care expenses, use HSA dollars to save for future health expenditures or offset potential risk,” said Matthew Sydney, CEO of Picwell. “By predicting risk, incorporating personal preferences into benefits selection and then packaging these recommendations, we’re helping consumers take a more comprehensive look at their benefits and, more importantly, understand how to best utilize each benefit. We believe this one-of-a-kind offering is a win-win for consumers, brokers, agents and businesses.”
"At Empowered, our goal is to create a simple, transparent enrollment process that makes it easy for someone to pick the best benefits for their family,” said Chris Burns, principal financial and operating officer of Empowered. “With Picwell’s package-based recommendations, we can now offer individualized recommendations to our customers and their employees that take into account their unique needs and can guide them in decision-making across health care, HSA and insurance options to make the right choices for their family. That is a huge differentiator for us and a great benefit to our customers and their employees.”
Picwell is currently used by 150 partners, including employers, insurance carriers, brokers and benefit enrollment platforms, to help 1.5 million people choose the optimal health plan for the coming year.
Picwell (http://www.picwell.com) is a Philadelphia-based software company that uses proprietary analytics to distill a complex array of benefit information down to simple, independent and objective plan scores that consumers can easily understand, thereby allowing them to choose their annual insurance coverage with confidence. Picwell delivers an individual's plan score and prioritization data directly via API to enrollment experiences of some of the nation’s largest employers and brokers. Picwell has delivered more than 1.5 million recommendations since 2015 to consumers seeking individual, group and Medicare coverage.