Health Insurance Exchanges are the centerpiece of the private health insurance reforms of the 2010 Affordable Care Act. Through state-based Exchanges, federally-facilitated Exchanges, and Federal-State Partnership Exchanges, individuals and small employers may shop for, select, and enroll in private sector health plans known as Qualified Health Plans (QHPs). Exchanges are expected to create substantial new markets for private-sector health insurance carriers, with an estimated 27-30 million people gaining coverage through Exchanges by 2019.
"If health insurance carriers are going to capture a share of the new business generated by Exchanges, they must be ready to interact and exchange data in new ways," explains Gene Brothers, CEO and President of OXLO Systems. The new white paper uses the business blueprints published by the Centers for Medicare & Medicaid Services (CMS) to detail the required automated data integration that health insurance carriers must be prepared to support if they intend to offer QHPs through an Exchange.
According to the white paper's author, DeLana Anderson, an independent consultant with ACA-Solutions, "The [Carrier's] ability to exchange data with the various governmental entities will be more successful if their technology closely mirrors the same standards and guidance to which the States must adhere. Carriers will need to receive data from, and send data to, many entities. This will require technology which can easily transform the Carrier's data to meet the unique file formats and support the transfer protocols of each integration partner."
"A Rapid Adaptation Strategy for Integrating with Health Insurance Exchanges" provides an overview of the data integration needs and requirements for successful Carrier participation in Exchanges, as well as IT recommendations and suggested timelines for implementation. The white paper is available for free download at http://blog.oxlo.com/rapid-adaptation-strategy-for-integrating-with-health-insurance-exchanges/.
About Oxlo Systems Inc.
OXLO Systems provides competitive business intelligence, secure Internet data integration, and information technology for the insurance and health care industries. The company has created IntegrateOnce™ technology to provide a solution for the complex data integrations required by Exchanges. Additional products and services include the Open Carrier Integration Hub, Health Insurance Oversight, Self Service Interoperability, and complex one-to-many enterprise integrations. Visit http://www.Healthinsurance.oxlo.com for more information.
About ACA-Solutions, Inc.
ACA-Solutions is a consulting company focused on helping the insurance industry bridge the gap created by the Affordable Care Act (ACA). Visit www.aca-solutions.com for information.