Retiree Drug Subsidy Firm makes two acquisitions in two months
LIVONIA, Mich.–(BUSINESS WIRE)–Part D Advisors, Inc., the nation’s largest administrator of Medicare’s
Retiree Drug Subsidies (RDS), announced the purchase of select assets
from Health Decisions, Inc. in Plymouth, Michigan. The assets are
related to Health Decisions’ Dependent Eligibility Audit and other
eligibility verification services and not other Health Decisions lines
of business.
The RDS program subsidizes retiree healthcare costs by reimbursing
qualifying Plan Sponsors up to 28% of allowable retiree drug expenses.
RDS is managed by the Centers for Medicare and Medicaid Services.
Health Decisions has been performing eligibility verification services
without a single employee appeal since 1993. Their Dependent Eligibility
Verification team, in-house Call Center, proprietary software and proven
approach will now be under the PDA umbrella. PDA stores and backs-up all
data in a Michigan-based data center with compliance ratings of SOC 1,
SOC 2, and SOC 3.
“Health Decisions has an excellent reputation,” said David Alexander,
Part D Advisors’ Executive Vice President. “Both organizations excel at
handling enrollment data for employers, trusts, and governmental
employers and combining our experience will bring synergies to the
benefits marketplace that include exceptional response rates and high
ROI.”
Judy Mardigian, Health Decisions CEO, said, “We are excited to entrust
our Dependent Eligibility Verification services to Part D Advisors. They
are a top-quality organization, and this sale will enable an even higher
level of service for our clients and the benefits eligibility
marketplace.”
While the privately held firms did not disclose terms of the sale, the
transaction comes on the heels of PDA’s select asset purchase of InTech
Health Ventures, LLC, an RDS administrator in Tucson. The Health
Decisions sale closed on May 3, 2019.
About Part D Advisors
Part D Advisors (www.PartDAdvisors.com),
founded in 2005, is the nation’s largest full-service RDS administrator.
Using its expertise and patent pending software, the firm handles every
aspect of the very complicated RDS process for Plan Sponsors. PDA
customers see an average increase of 8-15% in subsidies in addition to
increased accuracy and program compliance.
The Michigan-based firm is the only RDS administrator certified by
American Institute of CPAs — System & Organization Controls. Part D
Advisors has reviewed claims and subsidy filings from clients in 34
states including state and local governmental employers, Taft-Hartley
health funds, private employers, third party administrators and pharmacy
benefit managers. The firm maintains all necessary documentation and
data for six years, as required by the RDS program.
Contacts
Media Contact:
Alex Cooper for Part D Advisors
248-398-2667
[email protected]
