FARA Announces the Release of a web-based tool to help comply with Medicare Section 111 Reporting Requirements called MRCE (Medicare Reporting Compliance Expert).

FOR IMMEDIATE RELEASE

Mandeville, LA, January 13, 2010 – FARA Business Services, a provider of a suite of web-based solutions for the Insurance Services industry is pleased to announce the release of a new online application known as MRCE (Medicare Reporting Compliance Expert).

MRCE is an innovative web-based tool that allows for a low-cost, reliable means of transmitting Non-Group Health Plan data to Medicare to comply with MMSEA Section 111 laws regarding Mandatory Insurer Reporting. Section 111 of the MMSEA creates significant penalties for those that fail to comply with the new reporting requirements that can result in a fine of $1,000 per day per claim file for late reporting.

The new application is available for lease as a “SaaS” (Software-as-a-Service) product. MRCE is offered at an exceptionally low price point (as low as $8.75 per claimant, one time/lifetime of the claim) with a nominal setup and training fee.

FARA was able to maintain competitive pricing because the system was developed internally by FARA’s expert team of EDI programmers. Additionally, MRCE was built with ease of use as a key objective and was designed so that signing up and implementing this solution is a very quick and easy process.

To learn more about the MRCE solution and how FARA can help resolve your Medicare reporting issues, please visit: www.medicarereportingcomplianceexpert.com.

Founded in 1978 and headquartered in Mandeville, La., FARA is a nationwide insurance services provider of risk management and claims administration solutions for insurance companies, self-insured corporations and government entities. FARA’s flagship claims management system, iClaimsExpert™, offers immediate and accurate claims information in a secure and reliable web interface.

###