UltraLink and iBenefits merge
The marriage of the technology and healthcare management companies comes as the employee benefits, insurance and healthcare industries are just beginning to explore the opportunities of Internet technology.
Through the merger, UltraLink's health plan management services will be available to mid-sized companies that, until now, have not had access to extensive health plan management tools, such as vendor quality control, provider site matching services and member satisfaction, due to cost constraints. iBenefits will Web-enable such services so as to make them available to a wider range of employers.
"The combined companies offer complimentary tools for managing one of an employer's most significant administrative expenses -- employee benefits," said Jeff Graves, chief executive officer, iBenefits. "UltraLink and iBenefits together offer a comprehensive and unique set of benefits management products and services, which further distinguishes us from other service providers in this industry. Going forward, we will continue to develop new products that will shape the employee benefits industry."
iBenefits' suite of Internet-based tools automates both front-end and back-end processing of employee benefit eligibility, elections and deductions data. Through employee self-service and other techniques, the iBenefits system eliminates multiple forms and methods of data-entry, increasing efficiencies and data integrity. The Internet-based platform allows for a fast and inexpensive ongoing integration with other information systems, including existing HRIS, ERP and payroll systems on the employer end, and claims processing systems on the third-party administrator (TPA) or carrier end.
"The synergy between iBenefits and UltraLink has already proven to be tremendous," said Dr. Christopher Coulter, formerly CEO of UltraLink who will now serve as the combined companies' chairman of the board. "We've been generating an incredible amount of interest among employers who are very excited about what we're doing."