If patients enrolled in health insurance plans through the exchange marketplace fall behind on premium payments, there is a 30- to 90-day grace period for them to bring their premiums current before coverage ends. During that time, those patients still show up as covered in provider systems. In these cases, payments made by insurance carriers may be called back once the grace period is over, leaving providers on the hook for those charges.
Providing ongoing monitoring, HealthFund Solutions helps healthcare providers identify premium delinquencies even during grace periods. This allows for more accurate billing and processing and offers an opportunity to identify patients who may qualify for funding assistance programs to help with making premium payments.