Revolutionizing Health Plan Quotes for Brokers
For brokers working in group health insurance, the ability to receive quick, dependable quotes is essential. Angle Health has joined forces with PerfectQuote to enhance this process significantly. Their innovative digital quoting platform enables brokers to obtain firm, underwritten level funded quotes from Angle Health in less than two minutes.
Streamlined Quoting Process
PerfectQuote, recognized as a top digital quoting platform in group health, has reached a remarkable milestone. With a broad network that includes many of the largest firms in the U.S., the partnership with Angle Health allows brokers to instantly access straight-forward, underwritten proposals for level funded health plans. This is achieved through an easy-to-use Request-for-Proposal (RFP) toolset.
Benefits of the Integration
With this new partnership, brokers can now take advantage of a digital distribution platform that offers immediate access to bindable rates and quotes. This advancement aligns with PerfectQuote's goal of enhancing the distribution experience for brokers nationwide. The integration provides invaluable reporting insights which assist sales and underwriting teams in maximizing operational efficiency.
What This Means for Brokers
"Angle Health is revolutionizing the way brokers obtain level funded health plans by providing something unprecedented in the industry – firm, swiftly underwritten quotes that can be generated in under two minutes with basic information," explained Caleb Parker, Chief Commercial Officer at Angle Health. This substantial improvement gives brokers more flexibility, allowing them to present comprehensive options to their clients immediately.
Details Required for Quoting
To generate these quotes, brokers need to provide just a few pieces of information:
- Employee census data, including ages, zip codes, and coverage tiers.
- Employer information such as location, industry, and full-time equivalent count.
- Desired effective date for the health plan.
This simplification marks a significant transition from traditional level funded quoting, which often demands lengthy underwriting procedures and comprehensive medical questionnaires.
Industry's Response to the Change
Historically, accessing level funded health plans has posed challenges for brokers due to the drawn-out underwriting processes and intricate quoting methods. Curtis Kadohama, VP of Partnerships at PerfectQuote, stated, "The approach taken by Angle Health allows our broker partners to explore sophisticated level funded options alongside traditional ACA products in real time, fundamentally shifting how small and mid-size employers can secure self-funded benefits."
Key Advantages of Angle Health's Offerings
This partnership addresses a significant gap in the group benefits market, where level funded plans, known for offering notable cost savings, have often been inaccessible due to operational complexities. The key benefits of the Angle Health and PerfectQuote integration include:
- Instant Firm Quotes: Obtain ready, bindable rates in under 2 minutes.
- Simplified Data Requirements: Requires standard ACA information without extensive medical underwriting.
- Side-by-Side Comparisons: Easily compare level funded and ACA products on a unified platform.
- National Network Access: Direct access to prestigious networks like Aetna ASA PPO and Cigna Choice Fund PPO.
- Transparent Pricing: Guaranteed quotes with no hidden post-submission changes.
- Contract Flexibility: Offers a variety of terms with guaranteed 12-month runout periods.
- Digital Implementation: Quick digital member ID card issuance within 72 hours of sale.
About Angle Health
Angle Health is an AI-driven, integrated healthcare and financial services company dedicated to providing tailored, full-service health plans for employers throughout the U.S. They uniquely deliver near-instant, underwritten level funded health plans, utilizing proprietary technology to surpass the offerings of traditional carriers. Founded by veterans from the healthcare and technology sectors, Angle Health is backed by significant venture capital and operates through its licensed insurance entity, Balanced Insurance Company of Utah (BICU), with partnerships from A+ rated reinsurers.
About PerfectQuote
Founded in 2017 and located in Austin, Texas, PerfectQuote was created by brokers for brokers, emphasizing operational excellence and client satisfaction through technological innovation. Their cloud-based group benefits quoting platform is a leader in the industry and significantly streamlines the health insurance processes for various employer group sizes.
Frequently Asked Questions
1. What is the partnership between Angle Health and PerfectQuote?
Angle Health and PerfectQuote have teamed up to provide a faster, more reliable quoting process for level funded health plans, allowing brokers to receive firm quotes in under two minutes.
2. How does the integration benefit brokers?
Brokers can quickly access key information and receive accurate quotes, greatly reducing the time traditionally required for underwriting and quoting processes.
3. What information do brokers need to provide for quotes?
Brokers must supply employee census data, employer details like location and industry, and the desired effective date.
4. What are level funded health plans?
Level funded health plans are designed to offer employers predictability in costs while providing the advantages of self-funding.
5. How does Angle Health ensure quick quoting?
Angle Health utilizes advanced technology that allows for immediate underwriting based on minimal required data, significantly speeding up the quoting process.
