Infosys Releases Health Insurance Exchange Platform

According to a white paper issued by The National Academy of Social Insurance and the Georgetown University Health Policy Institute, health insurance exchanges are a critical component of the Affordable Care Act’s (ACA) provisions to expand access to coverage to millions of individuals. In addition to being a gateway for people to purchase subsidized health insurance, exchanges are expected to help organize insurance markets and promote more effective competition among health plans.

Infosys announced the availability of Infosys Health Benefit Exchange a solution designed to help states set up the insurance exchanges mandated in the ACA. Infosys Health Benefit Exchange enables payers to market plans more efficiently and offers the ability to utilize exchanges to get fast, personalized quotes, to more than one hundred million people, Infosys says.

The platform integrates insurance, clinical and financial data with customizable rule engines that support new regulations and the complex insurance market. The company says the unique transaction-based financial model provides participating plans with a more direct and cost-effective route to consumers than individual brokers. Features include:

• Benefit Management Language (BML): Unique to Infosys Health Benefit Exchange, the BML aims to standardize the structure of benefit packages across participating carriers, which will enable efficient searches and “apples to apples” comparison for users.

• Clinical data-driven recommendation engine: The recommendation engine leverages clinical data repositories, clinical decision support systems and/or data gathered during plan selection and enrollment to recommend suitable plans for users. All clinical data are provided or authorized by the user, and the privacy of any personal information is safeguarded.

• Small employer group consortium: Small employers can harness the power of the ‘Employer Community’ feature in Infosys Health Benefit Exchange that leverages the cumulative strength of small employers, providing increased access to manageable, cost effective plans that best suit their employees’ needs.

• Additional special features: Multi-lingual services, auction and reverse auction capabilities, a configurable rule engine to enable states to cater to different regulatory/compliance requirements and payer models, comprehensive analytics and reporting from a member, plan and regulatory perspective.