Alegeus Sees Continued Momentum for its Market-Leading COBRA Platform
Published on May 10th, 2023
Alegeus, the market leader in healthcare payment solutions, today announced continued momentum for its market-leading COBRA platform, WealthCare COBRA.
WealthCare COBRA, the industry’s first entirely cloud-native COBRA and direct-billing platform, empowers administrators to close administrative gaps and improve operational efficiency and scalability, resulting in increased customer satisfaction. Moreover, the platform simplifies complicated processes and reduces manual work requirements, and as layoffs continue across sectors—impacting employers and their employees—it delivers streamlined enrollment.
WealthCare COBRA offers numerous features benefiting administrators, employers and qualified beneficiaries. Some of the newer capabilities include:
Configurable single sign-on (SSO) framework
For administrators, a configurable framework allows them to easily set up SSO for a seamless user experience. For employers, it enables them to quickly and easily access beneficiary data and reports.
COBRA online open enrollment capability
The industry’s first comprehensive COBRA online open enrollment capability eliminates the need for administrators to manually track and manage COBRA open enrollment in disparate systems, a time-consuming process prone to human error. It enables administrators to easily and cost-effectively configure open enrollment periods, ensuring COBRA participants receive information about upcoming plan years at the right time, regardless of when their qualifying event occurs. Qualified beneficiaries can expect a smooth online process enrolling in next year’s benefits that aligns with their initial enrollment experience.
The self-service reporting suite undergoes ongoing enhancements, incorporating additional data elements that deliver higher levels of insight for administrators and employers.
“COBRA is vital to millions of Americans, many of whom are undoubtedly dealing with stressful situations. To help alleviate this stress and take care of these individuals, it is important to make the COBRA election, reinstatement and payment processes as easy as possible,” said Rachel Humbird, president, Peak One. “Alegeus has built a solution that aligns with our needs and with the needs of our clients. The Alegeus platform frees up and empowers us to give customers the service they deserve.”
“In today’s changing economic environment, as an increasing number of individuals are being impacted by reductions, it is essential that they are able to continue their coverage when they need it most without dealing with administrative delays,” said Mark Waterstraat, chief customer officer, Alegeus. “Working closely with our partners, we continue to strengthen WealthCare COBRA, simplifying complex administration and greatly improving enrollment experiences for impacted individuals and their families.”
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, with access to more than 100 million commercially insured Americans. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 3-4X the market, and with the highest net promoter scores (NPS) in the industry. We never compete with our clients in the market – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.