NEW YORK, May 10, 2013 /PRNewswire/ -- National
Financial Partners Corp. (NYSE: NFP), a leading provider of
benefits, insurance and wealth management services, announced today
that NFP Health Services Administrators, LLC, a wholly owned
subsidiary of NFP, has entered into an agreement with Network
Health to build, implement and operate a private health benefits
exchange platform in Massachusetts. NFP Health is a pioneer
in the design, implementation and delivery of health benefits
exchanges. Network Health is a nonprofit, comprehensive
health plan for Massachusetts
residents with low and moderate incomes.
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Through the new private exchange platform, individuals,
families, and small groups can compare plans available from Network
Health and enroll online. Network Health currently offers six
commercial plans to Massachusetts
residents through the health plan's Network Health Choice
product. NFP Health will also offer the same Network Health plans
on its multi-carrier health benefits exchange, Health Services
Administrators, where individuals, small businesses and producers
can shop and compare plans from New England's leading health plans
in one marketplace. The NFP Health benefits platform covers all
administrative services, including a robust shopping portal,
customer services, sales, IT, premium billing, renewals and broker
tools.
Commenting on today's announcement, Nick
Koulopoulos, Chief Strategy Officer of NFP Health, said, "We
are pleased to work with Network Health, facilitating their entry
into the commercial market with a world class shopping portal, as
well as best of breed administrative services for their new
members. We recognize that this is an exciting time for
Network Health and we are confident that our exchange platform will
provide valuable support as they expand into the commercial
market. NFP Health has operated for over 40 years in New
England and we have worked with most carriers in the region to
offer small group and individual plans."
Also commenting, Christina
Severin, President of Network Health said, "We are thrilled
to begin offering coverage to an even larger percentage of
Massachusetts residents, both
individually and through the business community, and in doing so,
expanding on our mission to improve the health and wellness of the
diverse communities we serve. By partnering with NFP Health
to build and operate our private exchange platform, we aim to
increase accessibility for and provide options to consumers. NFP
Health, with their qualifications and reputation in this
marketplace, will be an important partner to us for this new
program."
The Network Health private exchange can be accessed via:
http://network-health.nfphealth.com.
About NFP Health
As a pioneer in the design,
implementation and delivery of health benefits exchanges, NFP
Health has a long record of operating one of the largest and most
successful benefits marketplaces in New England. The leading
independent and full-service insurance exchange covers over 150,000
lives with a full scope of products and services. NFP Health is a
wholly owned subsidiary of National Financial Partners Corp. (NYSE:
NFP). NFP Health is currently operating in New England as Health
Services Administrators (www.hsainsurance.com). For more
information, visit www.nfphealth.com
About Network Health
Network Health is a
nonprofit, comprehensive health plan providing access to
high-quality health care for more than 215,000 Massachusetts residents through Network
Health Together® (MassHealth), Network Health
Forward® (Commonwealth Care), Network Health
Extend™ (Medical Security Program), and Network
Health Choice (an individual/small-group plan). To
improve the health and well-being of its members and their diverse
communities, Network Health offers fully integrated, in-house care
management, providing a team of medical, behavioral health, social
care, and pharmacy professionals who coordinate member care.
Network Health partners with more than 20,000 primary care
providers, specialists, hospitals, and community organizations
statewide. Network Health earned the National Committee for
Quality Assurance's (NCQA) "Excellent" Health Plan Accreditation
status, the highest accreditation rating, for its Network Health
Together plan. In 2012, NCQA's Health Insurance Plan Rankings
ranked Network Health as the third-highest Medicaid Health Plan in
the United States. Network Health
is among 10 health plans nationally and the first health plan in
New England to earn the NCQA Multicultural Health Care
Distinction.
About NFP
National Financial Partners Corp. (NYSE:
NFP) and its benefits, insurance and wealth management businesses
provide diversified advisory and brokerage services to companies
and high net worth individuals, partnering with them to preserve
their assets and prosper over the long term. NFP advisors provide
innovative and comprehensive solutions, backed by NFP's national
scale and resources. NFP operates in three business segments. The
Corporate Client Group provides corporate and executive benefits,
retirement plans, and property and casualty insurance. The
Individual Client Group includes retail and wholesale life
insurance brokerage, and wealth management advisory services. The
Advisor Services Group serves independent financial advisors by
offering broker/dealer and asset management products and services.
Most recently NFP was ranked eighth on Business Insurance's
100 Largest Brokers of U.S. Business; second on Business
Insurance's Largest Agents and Brokers Headquartered in the
U.S. Northeast; and as the ninth top global insurance broker by
Best's Review. NFP operates the fourth largest executive
benefits provider of nonqualified deferred compensation plans
administered for recordkeeping clients as ranked by
PlanSponsor; operates a top 10 independent broker/dealer as
ranked by Investment Advisor; and has three advisors ranked
in Barron's Top 100 Independent Financial Advisors. NFP is
also a leading independent life insurance distributor according to
many top-tier carriers. For more information, visit
www.nfp.com.
SOURCE National Financial Partners Corp.