NFP Health’s exclusive business for the past 50 years has been benefits administration. We started as an association of small businesses with the purpose of negotiating with carriers for the same rates being offered to “big business.” Over the years, our company has grown and pivoted along with the health insurance industry.
Since 1998, long before the term “exchange” existed, NFP Health has run an online multi-carrier, multi-product benefits marketplace called HSAInsurance.com. This private exchange supports individuals and small businesses shopping for and enrolling in medical, dental and other ancillary plans, including providing premium billing and integration with insurance carriers, banks, mail houses, and other supporting vendors. In addition to the end-to-end technology platform, NFP Health provides services such as a Call Center, enrollment and billing specialists, sales and account management, and other staffing to support a benefits marketplace. For our carrier partners on the exchange, we do virtually everything aside from claims processing.
The HSA Marketplace currently supports 200,000 members, 25,000 employer groups, nearly a dozen carriers and billed $581 million in premium in 2017. But more importantly, it means that we are a client of our own exchange, just like you. We bring a unique understanding of how to: help your exchange grow year after year, address the operational challenges you face, optimize business processes to be more efficient, and ensure your customers stay insured and receive the best possible coverage.
With the passage of the Patient Protection and Affordable Care Act of 2010 (ACA), NFP Health invested in a major upgrade of our technology platform and services to support the functional, technical, and security requirements of the exchanges envisioned under the law. We are now successfully operating in a third of all states with SHOP exchanges today, giving us more direct public SHOP experience than any other vendor in the market.
