|By Business Wire||
|May 29, 2012 09:11 AM EDT||
HMS, a wholly owned subsidiary of HMS Holdings Corp. (NASDAQ:HMSY), announced today that it has been awarded a contract by the State of Colorado, Department of Health Care Policy and Financing (Department), to administer the State’s Health Insurance Buy-In (HIBI) Program—a health insurance premium payment (HIPP) program—and its Medicare Buy-In project. Under the terms of this contract, HMS will perform outreach and enrollment services for Medicaid beneficiaries who may be eligible for HIBI or Medicare. The contract is renewable for additional one year periods for a maximum term of five years.
Maria Perrin, HMS Chief Business Officer, commented, "HIPP programs are designed to save taxpayers money by assisting qualifying Medical Assistance beneficiaries in taking advantage of employer sponsored health insurance, which in many cases may be more cost effective and offer broader benefit coverage than traditional Medicaid agency options. HIPP furthers States' efforts to help citizens access the most comprehensive healthcare coverage available via flexible enrollment programs.”
Perrin added, “As States begin to implement Insurance Exchanges according to ACA requirements, it will be increasingly important to ensure that the multiple coverage options available to consumers are effectively coordinated between public and private sources and that private insurance coverage options are retained as alternatives for as many individuals as possible."
HMS has provided third party liability and cost avoidance services to Colorado since 2001. During that time, HMS has recovered over $230 million on behalf of the State and helped achieve millions more in cost avoidance savings.
HMS is the nation's leader in coordination of benefits and program integrity services for healthcare payers. HMS's clients include health and human services programs in more than 40 states; commercial programs, including commercial plans, employers, and more than 135 Medicaid managed care plans; the Centers for Medicare and Medicaid Services (CMS); and Veterans Administration facilities. As a result of the company's services, clients recovered over $2 billion in 2011, and saved nearly $7 billion through the prevention of erroneous payments.