Accumulators are the method of precisely collecting and calculating total claim dollar values against plan deductibles and benefit limits. Managing claims accumulator data in a timely fashion can be both difficult and costly to a health plan. Accumulators that are shared between core medical and third party benefit partners such as pharmacy, mental health, dental and vision can be especially vulnerable to out-of-sync data. If not managed properly, it is easy for plans to overpay.

The Facets Accumulator Synchronization solution solves these problems. Built on advanced technology including a real-time service interface, Facets Accumulator Synchronization provides near real-time synchronization of accumulator data updates between Facets and third party ancillary benefit vendors.

This feature can:

• Reduce the time required to handle accumulators
• Improve the accuracy of accumulator data
• Ensure that deductible and benefit limits are properly applied
• Avert out-of-balance situations with latency between processing and updating
• Help clients support the Affordable Care Act mandate around maximum OOP, and lower administrative costs
• Improve data accuracy and allow for efficient data processing
• Provide the scalability and flexibility to grow with your business

The Facets Accumulator Synchronization solution is pre-mapped to the Facets core administration platform, allowing rapid implementation and smooth integration.