Paragon Selected to Deliver Summary of Benefits and Coverage Solution [Professional Services Close – Up]

Paragon Solutions, an advisory consulting and systems integration firm, announced that it was selected to deliver a Summary of Benefits and Coverage Solution for a health insurer to help it meet the government-mandated deadline for fall of 2012.

According to a release, the health insurer, with over 750- thousand members, engaged Paragon to provide a Summary of Benefits and Coverage in accordance with federal guidelines to current and potential health plan participants beginning September 2012.

The Summary, according to the government ruling released earlier this year, must provide members with the ability to understand and evaluate their health insurance choices. The Summary must be made available to participants when coverage is initiated, modified, or as requested.

"The ruling has left a number of health insurers scrambling to determine how they can address the mandate by the September deadline," said Tom Brennan, director of insurance solutions for Paragon. "Many of the firms we've spoken to were looking at stop- gap measures to address the demand until they realized there was an automated, more productive way to comply," Brennan said.

"This insurer took a route that will significantly reduce the risk of non-compliance," Brennan said.

"The penalties for non-compliance can quickly become costly. The failure penalty is $1,000 per failure - and each enrollee can be considered an independent failure," he said.

More information:

www.consultparagon.com

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