HealthPlan Services Launches “benefit crossroads”

TAMPA, Fla. – May 30, 2012 – HealthPlan Services (HPS), the nation’s leading technology and administrative services provider for the insurance and managed care markets, announced today the launch of “benefit crossroads” to provide consumers with a single online source for top-rated individual insurance plans. It combines medical, dental, vision, life, Medicare advantage, PDP and Medicare supplement plans from the nation’s leading carriers with advanced online search and education tools and trusted advisors to guide consumers toward insurance that is tailored to their specific needs.

“Purchasing individual insurance can be a complex and confusing process, particularly for seniors sorting through multiple Medicare options and consumers who had previously relied on their employers for coverage,” said HPS President and CEO Jeff Bak. “What they need – and what benefit crossroads delivers – is a simple and convenient resource dedicated to helping them make the right insurance decisions for themselves and their families.”

Anne Marie Faria, HPS’ Chief Marketing and Sales Officer, adds: “benefit crossroads’ licensed sales consultants have access to the same advanced analytics and predictive modeling tools HPS uses to drive successful retention programs for some of the nation’s leading insurance carriers. This lets them provide customers with the guidance they need to make more informed purchasing decisions.”

Backed by HPS’ advanced technology platform and industry-leading customer support, benefit crossroads is focused solely on providing consumers with access, knowledge, product choices and personalized guidance to provide ‘total care’ insurance coverage. The benefit crossroads model is extremely beneficial to seniors who, at 64½, are aging into Medicare because it connects them with licensed and certified consultants who will take the time to explain the program’s benefits and assist them in making the best choice of coverage.

By leveraging HPS’ 40-plus years of experience administering the nation’s leading insurance plans, benefit crossroads takes a unique best-of-breed approach that allows consumers to choose from an array of quality plan options. This suite of top-rated plans is supported by robust, retail-style analytics, research, education and purchasing tools that help consumers self-select plan combinations that best meet their needs and complete enrollment online.

For those who need or prefer to work with an advisor, benefit crossroads is backed by a team of insurance agents licensed in all 50 states available to consult with consumers by phone and/or email, prepare customized packages and support them during and after enrollment.

“We are taking a more sophisticated approach to online and virtual insurance sales,” said David Holton, Vice President of Consumer Sales for HPS. “At benefit crossroads, the feeling experienced on our website and during informative conversations with our sales consultants has more of a ‘retailism’ feel than insurance, connecting the right product with the right person. We go beyond the standard ‘click and buy’ process to provide an unmatched level of education and support so our customers can be confident that they are purchasing the exact coverage they need. Nor does the customer relationship end when the policy is issued. We stay engaged throughout the life of the policy.”

For carriers interested in a cost-effective strategy for entering or expanding their presence in the individual market or supporting marketing efforts focused on Medicare aging-in consumers, HPS also offers branded partnership opportunities leveraging the benefit crossroads platform.

For more information on benefit crossroads, call 877-803-5393 or go online to benefitcrossroads.com.

About HealthPlan Services

HealthPlan Services (HPS) is the largest independent provider of service and technology solutions to the insurance and managed care industry. Since 1970, HPS has offered customized administration and distribution services to insurers of individual, small group, voluntary and association plans, as well as valuable solutions to thousands of brokers and agents. HPS’ proprietary, scalable technology provides innovative consumer-facing solutions that are turnkey self-service tools for insurance carriers and distribution partners. HPS offers an ever-expanding array of services to a diverse and growing client base, and administers products that include medical (PPO, HMO, indemnity, consumer-driven), dental, vision, life, disability, cancer, critical illness, accident, long term care, limited medical, as well as various other ancillary insurance. HPS is committed to providing extraordinary service to its customers. HPS is a company of Water Street Healthcare Partners, a strategic private equity firm focused exclusively on healthcare. For more information about HPS, visit www.healthplan.com.