HealthPlan Holdings is the wind beneath the wings of health insurers across the US. The company, through its subsidiaries, is a third-party administrator of health plans; it processes claims, supports sales and distribution operations, and provides enrollment, customer service, and billing services for some 2 million consumers belonging to health plans offered by the likes of CIGNA and Humana. The firm's HealthPlan Services subsidiary primarily serves insurers in the small business, individual, and voluntary markets, and its American Benefit Plan Administrators unit caters to union trust benefit plans. The company is controlled by private equity firm Water Street Healthcare Partners.
The company administers more than $1.6 billion in annualized premiums for fully insured plans and services more than 2 million members, processing 6 million insurance claims, handling more than 1.6 million website transactions, answering 6 million phone calls and supporting more than 25,000 insurance agents.
HealthPlan Holdings supports more than 30 insurance carriers that use its technology and service solutions.
Its subsidiary companies include American Benefit Plan Administrators (administrative services exclusively geared to the multi-employer trusts organized under Taft-Hartley laws on behalf of unionized workforces); Harrington Health (benefit administration and claim processing for self-funded commercial and government employers); and HealthPlan Services (business process outsourcing and distribution support).
The company's offices are located in Albuquerque, Atlanta, Chicago, Dallas, Las Vegas, Los Angeles, Miami, Phoenix, Tampa, and Washington, DC.
HealthPlan Holdings grows by expanding its portfolio of services and geographic coverage. In 2011 it bought Zenith Administrators and its regional third-party administrator businesses. Zenith specialized in Taft-Hartly benefit plan administration and helped HealthPlan Holdings bulk up its national presence. That year it also entered into a strategic partnership with Beazley Accident & Health Insurance to provide comprehensive business process services.
HealthPlan Holdings expanded its operations in the northeastern US through the purchase of GEMGroup, a provider of union trust benefit administration services, in 2010.
In 2008 Water Street Healthcare Partners bought a majority stake in HealthPlan Holdings from Sun Capital Partners. The company was originally founded in 1970. – less