Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, today announced that WealthCare COBRA, the industry’s first 100% cloud-native COBRA and direct-billing platform, will formally launch at the 2021 Alegeus Client Success Summit, June 15–16. The latest addition to the industry-leading Alegeus WealthCare platform, WealthCare COBRA will provide a seamlessly integrated experience for employers and consumers in times of transition between employer-sponsored health benefits.
“The COBRA market is ripe for disruption — characterized by antiquated, inefficient and inflexible legacy technologies that drive up administration cost and add to consumer confusion,” said Mark Waterstraat, Chief Customer Officer at Alegeus. “Built first to optimize the user experience of all stakeholders — from consumers to employers to administrators — WealthCare COBRA will continue to deliver on the Alegeus promise to transform the way consumers navigate the U.S. healthcare system.”
Built by an experienced COBRA and direct-billing leadership team and guided by a highly engaged Client Advisory Board, WealthCare COBRA is unmatched in the market today. Designed from the ground up to power highly efficient administration for employers of all sizes and complexity, the platform delivers flexibility in scale, powerful data insights and reporting, and a highly intuitive user experience.
Alegeus has signed several early-adopter clients that have provided positive feedback while piloting the platform:
“I have thoroughly enjoyed working with the Alegeus COBRA implementation team. We’ve truly appreciated the opportunity to ‘be at the table’ and to share our experiences and insights into the world of COBRA. I’m confident that the Alegeus COBRA solution will undeniably be the best in the industry — not just for TPAs, but for the clients that they serve.” – Ross Honig, President, OCA
“What a team! Changing administration platforms is an adventure full of challenges and opportunities. Unfortunately, we at NBS know that from experience. During our current move to the WealthCare COBRA platform, however, those challenges were surprisingly minimized by the awesome team of professionals and industry-shifting technology at Alegeus. Working hand-in-hand with our internal COBRA operations team, the Alegeus group demonstrated a superior level of expertise that has facilitated a smooth transition to their new administration platform.” – Scott Muir, Vice President of Flexible Benefit Solutions, National Benefit Services
“The COBRA team at Alegeus has been fantastic to work with! Their extensive knowledge of COBRA laws and regulations has allowed them to create a unique and industry-leading platform that makes administering COBRA a turnkey experience for both TPAs and employers. Their guidance and assistance have been critical to our success.” – Tanya Martin-Dick, Vice President and Manager, Omnify
WealthCare COBRA will guide consumers through the enrollment process for COBRA and direct billing. A simplified journey presents the most crucial information — such as deadlines and cost details, clear instructions and resource information — to reduce confusion and uncertainty when consumers need healthcare most.
“Our clients asked for a single, end-to-end solution that scales alongside their business, and we listened,” said Leif O’Leary, Alegeus CEO. “We are excited to be able to deepen the value we offer to our clients and the market.”
With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based healthcare payment solutions. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently and unlock their full growth potential. Our partnerships with the industry’s leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market. And our unique partnership model empowers our clients to achieve outsized results — growing their programs at a rate that is 2–3X the market, and with the highest net promoter scores (NPS) in the industry. We never compete with our clients — we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.