The Challenge:
Before partnering with ClearFile, a large ACA carrier was dealing with approximately 10,000 objections on their ACA filings. This led to significant rework and put a strain on internal resources.
How We Helped:
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Penstock introduced its ACA-in-a-Box solution, leveraging expertise and technology in regulatory compliance to streamline the carrier’s ACA filings.
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Implemented the ClearFile automated regulatory filing platform to reduce manual processes and enhance accuracy.
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By staying on top of changing legislation across states, we ensured that their filings were of the highest quality.
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This proactive approach minimized the need for mid-cycle updates and reduced disruptions for members.
Results:
The partnership led to a 97% decrease in filing objections.
- This dramatic improvement resulted in a significant boost to the ROI of time spent by the carrier’s team.
- Relationships with DOI and CMS were strengthened, with the carrier becoming one of the few plans that did not require a CMS courtesy meeting.
- Penstock’s work has also reinforced the carrier’s commitment to providing high-quality, compliant ACA plans, ultimately improving the overall member experience.
