ATLANTA, March 5, 2019 /PRNewswire/ -- CarynHealth, the small business association health plan brand of Association Health Plans of America, LLC ("AHPA"), today announced that it has selected HSBSuite™ from HSBlox to power its "association in the box", the next-generation approach to the small employer healthcare marketplace. AHPA was formed to meet the breakthrough opportunity provided by the Association Health Plan regulation recently put forth by the U.S. Department of Labor allowing small businesses to group together for health benefits.
This allows small business real change by joining an association for group rate coverage adding new choices for health coverage. AHPA expects price improvement over existing plans saving small businesses up to 15%. This new opportunity could positively affect 28 million small businesses across the United States.
"HSBlox's integrated set of applications will support us in leading the way to customized, affordable coverage for small business," according to Fran Tarkenton, Chairman of AHPA. "In the past eight years, 35% of small businesses have had to drop health coverage for their employees---yet the number one-rated employee benefit is health coverage."
HSBSuite's distributed ledger technology ("DLT" aka "blockchain") smart contract-enabled solutions bring automation, transparency and real-time permissioned disclosure of data to the healthcare benefit ecosystem. "We are proud to provide an innovative, best-in-class approach to the administration of affordable coverage options," said Rahul Sharma, CEO of HSBlox. "AHPA's association model approach is the disruption needed for small business allowing small business to band together for savings."
AHPA is launching its initial health plans in two states, Georgia and Arizona, under its CarynHealth brand during the second quarter. "We manage employer sponsored health benefits providing a unique, digital experience to employees, including personalized coaching and education--- guiding them through enrollment and supporting them all the way through claims to a satisfactory outcome," said Mike Dendy, CEO of AHPA. "Our mission is to create healthier businesses with healthier and happier employees."
CarynHealth's "association in the box" platform will streamline administrative and care information flow, ensuring transparency for members and improved care coordination. Applying smart contract technology will automate payment and administrative processes among participating stakeholders in support of member engagement, quality improvement, and cost containment. Managing, enrolling and interacting with these plans will be more like shopping with your favorite online retailers, not struggling with one of the insurance industry giants.
AHPA is an Atlanta-based healthcare benefit management services organization operating under the CarynHealth brand. CarynHealth Solutions was founded and managed by small business entrepreneurs and icons, as well as small business and healthcare experts who understand the challenges faced by small businesses who want to offer affordable and comprehensive health coverage to recruit and retain the best talent in a tight job marketplace.
The AHPA board includes Tom Price, former Congressman and HHS Secretary who helped advance the AHP concept, Fran Tarkenton, Hall of Fame quarterback and successful entrepreneur, Mike Dendy, founder and former CEO of Advanced Medical Pricing Solutions (AMPS), and Alfredo Ortiz, CEO of Job Creators' Network which drives meaningful change for U.S. small business people in Washington, and Brett Carlson, the founder of Eir Partners, a strategic partnership and investment company focused exclusively in healthcare, healthcare technology and consumer healthcare.
HSBlox is an Atlanta-based technology company dedicated to bringing innovation and transparent economics to the healthcare ecosystem. HSBlox draws from its extensive experience in healthcare, supply chain management, and fintech to deliver next-generation healthcare applications built on its SETU DLT platform. Visit www.hsblox.com
The HSBlox board includes Davidi Gilo (Chairman), serial entrepreneur who has created shareholder value in excess of $10 B at the following companies – INVeSHARE, DSP Group, DSP Communications, Ceva, Nogatech, Audio Code, Stentor and Zen Research, and Rahul Sharma (CEO), serial entrepreneur and technologist with successful track record at following companies – Bloxshare, INVeSHARE, Manhattan Associates, Peachtree Software and Tata Steel. The advisory board of HSBlox includes Carl King, former SVP executive of Aetna and current CEO of ValueHealth Holdings, Todd McDonald, visionary co-founder of R3 and Dr. Amol Bapat who is a respected cardiologist in Atlanta.