Gilsbar Helps Insurance Companies Transition Out of Group Claims Business
Gilsbar Helps Insurance Companies Transition Out of Group Claims Business
(PRWEB) September 24, 2003
Gilsbar Helps Insurance Companies Transition out
Of Group Claims Business
FOR IMMEDIATE RELEASE – September 24, 2003
Gilsbar, Inc., a preeminent third party administrator in the southeast, recently began targeting insurance companies for outsourced claims payment, administration, customer service, billing, eligibility, COBRA and HIPAA compliance services. Gilsbar has been administering medical plans for insurance carriers since the 1960Â’s. The company secured work for Hannover Life Re, of Orlando Florida on August 1, 2003. Recent trends show that administration of group major medical, individual major medical, Medicare supplement plans, dental, life and long term disability are often being outsourced to independent TPAÂ’s in this manner.
According to Hank Miltenberger, Gilsbar’s President, “HIPAA legislation and its associated compliance requirements have led many insurance company executives to determine that the time and financial investment required to maintain operations and become compliant with HIPAA is not cost effective for them. Instead of investing hundreds of thousands of dollars to ensure compliance, the logical alternative is to outsource, shifting the burden of compliance operations to the independent TPA. Some of the industry’s largest companies are considering outsourcing, as certain TPA’s can offer a level of expertise and efficiency the insurance company simply can’t compete with in-house. Outsourcing allows the insurance company to focus on more productive strategies including sales and business development. It’s really a win-win for both parties.”
Founded in 1959, Gilsbar, Inc. is a leading provider of comprehensive insurance services. Gilsbar serves employers, affinity groups, insurance companies and individuals, offering various services including third-party administration, plan management, and quality insurance products. Gilsbar has the unique ability to meet the needs of the individual client, providing customized self-insured plan design, fully-insured options for association health, life and disability, as well as professional liability protection. Currently managing over 250,000 individual lives, Gilsbar distinguishes itself through integrity, responsive service, integrated technological solutions and unwavering commitment to client satisfaction. Visit our website at http://www. gilsbar. com.