WLT Software Enterprises, Inc., a developer of custom benefits and claims administration software solutions, has announced its partnership with Healthcare Reporting.
For more than four decades, WLT Software has been a leading provider of benefits administration, claims processing, workers’ compensation, and consumer-driven healthcare solutions. WLT’s core systems, MediClaims and CompClaims, were developed with the understanding that every organization has its own unique needs and requirements. Through this partnership, WLT aims to strengthen its mission as the steadfast service for adaptive solutions.
Toward the end of 2020, Congress passed the Consolidated Appropriations Act (CAA of 2021) into law, which requires insurers and plans to submit cost data on pharmacy benefits and drug costs annually. This reporting requirement requires both prescription drug spending data along with other data items such as employee contribution, manufacturer assistance program reimbursements, and more – many of which the TPAs does not have.
While reporting for 2020 and 2021 Prescription Drug Data Collection (RxDC) has passed and more deadlines loom ahead. Some PBMs and TPAs have imposed deadlines to collect information from the plan sponsor in order to meet the upcoming June 1st, 2023, deadline for the 2022 reference year. Even sooner are the deadlines to collect additional information for filings. As carriers and TPAs, who are in agreement, to file on behalf of employers have imposed reporting deadlines for employers to follow (some as early as March 1st). WLT and Healthcare Reporting’s partnership will aim to make this process streamlined and easier for clients.
Founded in 2015 to address new compliance regulations required under the Affordable Care Act, Healthcare Reporting has since evolved in order to meet the needs of their clients and partners. With experience in different roles across the healthcare delivery system, their healthcare professionals have worked to develop solutions from their collective wisdom. Targeting the continued growth of the compliance burden, Healthcare Reporting remains committed to delivering smart and affordable services, along with a high degree of technical expertise and client service.
“TPAs have a lot on their plate with CAA compliance, to say the least,” said Mark Combs, CEO of Healthcare Reporting. “We are really excited about our partnership with WLT because it will make the lives of many TPAs much easier at a time when they need the extra capacity.”
WLT Software Enterprises, Inc., is a leading provider of advanced benefits administration and
claims adjudication systems for Insurance Companies, Government Employee Plans, TPAs and
Self-Administered Groups. With corporate offices in Clearwater, FL, WLT’s core systems include
MediClaims and CompClaims. Core system capabilities encompass a range of benefit and claim
types, from full Medical, Dental, Vision and Prescription Drug to FSA, HSA, HRA,
COBRA, Disability and HMO Capitation to Work Comp claims. To learn more visit www.wltsoftware.com.
Healthcare Reporting is a tech-enabled employee benefit reporting ecosystem that delivers smart, affordable services to Plan Sponsors, Brokers, TPAs, PBMs, Captives, and the Stop-loss marketplace. They offer solutions that include Drug Cost Reporting, Mental Health Parity Analysis, Claim Analytics and Reporting, and ACA Reporting.
WLT Software Inc.
Shelley Van Etten, CEO
Marcus Combs, Founder & CEO