HealthPlan Services Selected to Provide Administrative Services for AIG@WorkSM
TAMPA, Fla. October 4, 2005 - HealthPlan Services, Inc., today announced it has been selected by the Domestic Accident & Health Division of the AIG CompaniesSM to provide private label administrative services for AIG@WorkSM. AIG@WorkSM is the marketing name for insurance products and services provided by the Domestic Accident & Health Division of the AIG CompaniesSM to the employer/employee market.
Under this new arrangement, HealthPlan Services will provide worksite policy administration for voluntary group and individual products sold under the AIG@Work employee benefits portfolio. The system will be known as the AIG@Work S.M.A.R.T. PlatformSM. S.M.A.R.T. stands for Sales Marketing Administrative Reconciliation Technology. HealthPlan Services created this billing and customer service platform to handle payroll deduction on group and individual products as well as deliver self-service capabilities for carriers, brokers, employers and employees, including Web access to eligibility and billing reconciliation.
"Worksite and other voluntary insurance products and services are becoming increasingly important in all size segments of the employer market," said Jeff Bak, President and CEO of HealthPlan Services. "We are very excited by this opportunity to engage with the Domestic Accident and Health Division of the AIG Companies for their AIG@Work products to bring state of the art administration and service to their employer clients."
About HealthPlan Services
HealthPlan Services (HPS), a Sun Capital Partners, Inc. affiliate, is the nation’s largest provider of TPA services to the small business, voluntary and individual marketplace.
HPS provides administration and distribution services for the employee benefit market focused in accident and healthcare segments. HPS’ services are specifically designed to meet the needs of companies insuring individuals and small businesses. Offering products such as health insurance (PPO, HMO, Indemnity, consumer driven), Dental, Life Insurance, Disability, Long Term Care and Ancillary products. For more information about HealthPlan Services, please visit www.healthplanholdings.com.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on identifying leveraged buyout and investment opportunities in market-leading companies that can benefit from the expertise and experience of Sun Capital’s in-house operating professionals. Sun Capital Partners has offices in Boca Raton, Los Angeles, New York, and London.
Contact: HealthPlan Holdings, Inc., Jeff W. Bak (813) 289-1000, extension 2037
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