CoreSource News

CoreSource Expands Presence In State Risk Pool Market

CoreSource expanded its presence in the state health insurance risk pool market by winning the business of another state pool responsible for providing coverage to residents who need health insurance but who cannot obtain it through other channels because of health conditions. The Mississippi Comprehensive Health Insurance Risk Pool Association, which provides health insurance to about 3,500 people, becomes a new CoreSource client, with an effective date of January 1, 2010.

Last year, CoreSource was named the third-party administrator for the North Carolina Health Insurance Risk Pool, also known as Inclusive Health, and the business provided experience that helped secure the Mississippi account.

“Through our relationship with Inclusive Health, we learned a lot about the unique characteristics of state risk pools, particularly about administering a health plan based on an individual platform rather than a group platform,” said Lee Rufty, Regional Vice President, Sales, CoreSource Charlotte.

“The Charlotte office and NGS are working closely together to provide seamless service to the risk pool,” Rufty said. “Our new client expects a customized Web-based enrollment system and a premium collection system that accepts electronic debits. Charlotte led the efforts to secure the account, and NGS will provide online enrollment, eligibility verification, and billing and premium collection.”

In addition, CoreSource will provide claims administration, customer service and pharmacy benefits management, along with YourCare health and wellness services for members of the Mississippi risk pool.

“It’s been exciting to be part of a process designed to look for new sources of revenue and then to be successful with two new accounts in the same niche market within 18 months,” Rufty said. “As our experience in this market grows, so does our expertise. Thirty-five states have health insurance risk pools, and we’re actively pursuing other accounts right now.”