STEP Solutions Announces Medicare Supplement Product Templates
Medicare Supplement Product Template allows for rapid configuration of Plan Comparisons, Enrollment, Eligibility and Underwriting using electronic application, reflexive questionnaires and a user-experience tailored for Medicare Supplement products for the senior market
STEP Solutions Group today announced the release of Medicare Supplement Product template for New Business. The Medicare Supplement (“MediGap”) product template allows carriers to rapidly configure their Medicare Supplement product offerings. Using the STEP “Product Configurator”, business analysts at Carriers can set up Medicare Supplement Plans, Coverage options and benefits, Guaranteed Issue rules and Eligibility rules. These product attributes can then be tied to the underwriting risk classes, the e-forms and premium rates for the plans.
STEP Product configuration for the Medicare Supplement products enables carriers to set up underwriting risk classes and network based plan options. Rates can be configured based on age, locale or zip-codes. In addition, underwriting based on impairments can be configured based on underwriting guidelines provided within the Medicare Supplement product template.
Workflow processes defined in the Medicare Supplement template enable product distribution using traditional agent / agency channels, direct-to-consumer channels or thru affinity / group enrollment distribution. The workflow processes follow an optimal path provided by the Medicare Supplement product template.
Utilizing the Medicare Supplement product templates, carriers can configure and deploy their Medicare Supplement products on the STEP SaaS (Software as a Service) web platform within 12-16 weeks for all states and all Medicare Supplement Plans.