Softheon Streamlines Operations and Decreases Administrative Burdens for Health Plans

Softheon Streamlines Operations and Decreases Administrative Burdens for Health Plans

Softheon incorporates health insurance exchanges with the issuer's downstream core admin systems. That integration allows for accurate, bi-directional data transfer and reconciliation between exchanges and issuers.

Fremont, CA: Softheon, a leading cloud-based health insurance exchange and marketplace-as-a-service provider, has launched premium payment processing, specialized financial billing, and account reconciliation technology. The solution presently supports many health plans during the new Special Enrollment Period (SEP) for the Affordable Care Act (ACA) marketplace.

Many health plans face significant obstacles with subsidy and enrollment reconciliation in ACA plans. More enrollees, increased subsidies as well as retroactive policy changes could widen reconciliation gaps in 2021.

Softheon incorporates health insurance exchanges with the issuer's downstream core admin systems. That integration allows for accurate, bi-directional data transfer and reconciliation between exchanges and issuers.

Kevin Deutsch, Softheon's General Manager and Senior Vice President of Health Plans, stated, "Our flexible marketplace cloud enabled Softheon and our health plan partners to be ready for this new Special Enrollment period. We work together to ensure operational efficiency with these new variables in 2021, while remaining compliant with CMS."

Some of the largest health plans in the US rely on Softheon for not only subsidy and enrollment reconciliation but also overall member experience.

Softheon's Chief Executive Officer, Eugene Sayan, stated, "Health plan and consumer requirements have changed. Platforms need to not only work, they need to meet or exceed the expectations of an increasingly demanding and sophisticated consumer. I think that's why our integrated cloud solutions have taken us to a leadership position for health plans."