HealthPlan Services Launches MyConsumerLink

TAMPA, Fla. – April 17, 2013 – HealthPlan Services (HPS), the nation’s leading technology, sales, retention and administrative services provider for the insurance and managed care markets, announced today the launch of MyConsumerLink^SM, a comprehensive, turn-key private exchange marketplace designed to help agents and affinity groups retain and grow business. As consumers begin to take ownership of health plan purchases, industry estimates suggest that as many as 45 million people will use public and private exchanges by 2020.

Preparing for the launch of exchanges during fourth quarter of 2013, private exchanges will provide a new avenue for consumers to shop, compare and purchase health plans, shifting the industry to a consumer-driven model. Market trends suggest that many employers are already planning to move greater responsibility for coverage selection to employees through the use of private exchanges by moving to a “defined contribution” as opposed to a “defined benefit” health plan model.

“The introduction of private exchanges creates disruptive conditions in the health insurance industry as all stakeholders enter unchartered territory. It will be critical for distributors to be equipped with the best infrastructure and consumer tools to promote customer retention strategies and capitalize on new opportunities,” said HPS President and CEO Jeff Bak. “By partnering with the industry in this effort through the launch of MyConsumerLink, HPS has taken the necessary steps to ensure our clients’ future success in this new environment.”

Adds HPS Chief Marketing and Sales Officer Anne Marie Faria, “MyConsumerLink is an important expansion of our innovative Go-To-Exchange^SM platform of services. By leveraging the combined power of our 40-plus years of insurance sales and service experience, MyConsumerLink is a powerful tool that allows agents and affinity groups alike to overcome the cost, technology and administrative barriers hampering entry into the exchange market.”

MyConsumerLink offers access to a full suite of top-name products, front-end sales and call center support, as well as the technological infrastructure that will be required to successfully compete in the private exchange marketplace. Made available through a web-based interface, MyConsumerLink is designed as a transparent private exchange, driving brand loyalty as a value-added service of a company or agent. Insurance agents and their customers are also able to leverage HPS’ expert sales and call center support, offering back-up for questions, guidance and closing sales.

About HealthPlan Services

HealthPlan Services (HPS) is the largest independent provider of sales, service, retention 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. For more information about HPS, visit www.healthplan.com.