RESTON, VA – March 31, 2014:- hCentive, the leader in ACA health insurance exchange technology, announced it had raised $35 million from a strategic investor. The majority of the funds will be used to expand its marketing and sales initiatives. In addition, funds will be put toward development efforts, specifically to accelerate product roadmaps.
This minority investment is in recognition to the leadership role that hCentive has played in the health insurance market. Its success in the public exchange market has been widely recognized; with the media heralding the state-based exchanges powered by hCentive as the most successful.
The investment will allow the company to continue in its mission to make it easier for consumers to gain access to health benefit products. Additionally, the company strives to develop technology that enables its clients to meet today’s market challenges as well as prepare for tomorrow.
hCentive is in the business of simplifying the complex world of health insurance. hCentive provides technology solutions for health insurers and state health agencies. These solutions help them reduce cost and administrative complexity, while enhancing relationships with their customers.
hCentive is the first organization to build an exchange solution from the ground-up post the Patient Protection and Affordable Care Act of 2010 (PPACA). hCentive has developed a deep understanding of healthcare reform and has crafted solutions and services that align with federal and state regulations and meet or exceed all industry standards.
The hCentive WebInsure Medicare platform helps health insurers cost-effectively acquire and manage Medicare and small business customers. The hCentive WebInsure Private Exchange solution allows health plans to offer defined contribution plan marketplace to small business customers. The WebInsure State platform helps states create a health benefits exchange to comply with health insurance exchange requirements of the PPACA. The WebInsure Exchange Manager provides a complete connectivity solution for health plans to connect to State Exchanges.