Medicare Supplement / Medigap TPA
The Medicare Supplement / Medigap industry is constantly changing and growing rapidly. With new regulations, over 10,000 seniors per day aging into Medicare, and a shifting political landscape, you need a third party administrator who has experience, knowledge, and the ability to perform the business process outsourcing you require. Insurance Administrative Solutions is that TPA.
Medicare Supplement / Medigap administration is our specialty. We have a complete staff dedicated to Medicare Supplement business and monitoring releases from the Centers for Medicare & Medicaid Services (CMS). We receive daily updates from CMS on the latest regulations, requirements, and claims. When our Medicare specialists identify an anomaly in a CMS release, we notify them immediately – and we are routinely the first to do so.
Highly Automated Claims Process
Most of our Medicare claims are paid automatically on an electronic basis, guaranteeing a fast turn-around. If for some reason the claim cannot be paid electronically, our claims experts will review the file manually and make sure that it is taken care of in a timely manner. Rest assured, your Medicare Supplement customers will always have their claims paid as quickly and efficiently as possible. We process over 5 million claims per year.
Timely Rate Increases
Medicare Supplement policies are very sensitive to the rate increase process. Fortunately, IAS can provide you with timely annual rate reviews and adjust your Medicare Supplement rates to reflect the most optimal pricing model.
As one of the first companies to offer a true end-to-end online application, our cutting-edge online application technology allows Medicare Supplement customers to apply for their policies online, in real time. In as little as 15 minutes, your clients will go through an automated underwriting process, can receive their new Medicare Supplement policy, and be issued their welcome letter and ID card.
This is just a sampling of some of the services we provide our Medicare Supplement clients. As of 2009, the NAIC reported total Medicare Supplement premiums in excess of $19 billion annually. The buying power and product recognition for Medicare Supplement Insurance makes this an enormous opportunity for companies not yet present in this marketplace. If you are ready to learn more about what we can do for you, give us a call today.