Bswift is renewing its contract with the state of Utah to remain its enrollment and administration technology provider as part of the Utah Health Exchange, which is one of the nation's first working health insurance exchanges.
Bswift won the contract in 2009 to partner with Utah officials to establish the Utah Health Exchange that supports more than 4,600 people from 182 small businesses. Based on a consumer-centric defined contribution model, the Utah Health Exchange offers more than 100 plans from four insurance companies.
Because of this approach, small businesses can more easily offer health insurance to their employees, which cuts the amount of uninsured in Utah. In fact, 25 percent of employers that are a part of the Utah Health Exchange did not offer health insurance to their employees in the past.
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To support the Utah Health Exchange's focus on small businesses, the bswift platform includes consumer shopping tools along with side-by-side assessments of plan options, provider search tools, filtering and sorting capability as well as bswift's Best Fit Plan Advisor tool. Pricing functionality that customizes premiums is also available for more than 100 plans and 44 various age-tier combinations.
"The setup and administration of exchanges is a complex operation with many moving parts, so it's a challenge to launch an exchange and get it right," says Patty Conner, director of the Utah Health Exchange. "It makes sense to take advantage of companies such as bswift that have core competencies and existing technology to deliver the necessary shopping, enrollment, eligibility and administrative functions.
"It also allowed Utah to bring an exchange to market more rapidly and at a lower cost than trying to re-invent the wheel internally within state government."
"The Utah Health Exchange is a bold experiment in health care reform that is proving practical and viable," says Rich Gallun, CEO of bswift. "We are proud of bswift's contribution to the pioneering of a consumer-centric, market-based solution for individuals, employers, brokers and health care insurers.
"Looking forward, we plan to invest substantial resources in people and technology to improve the Exchange's scalability and support its ambitious plans to expand by hundreds of thousands of enrollees."
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