Minneapolis, MN. September 6, 2012 -- OutsourceOne, Inc., known as a leading benefits administration and technology company, announced today that it is changing its name to Cielostar to reflect its expansion into related, but broader, areas of the health benefits marketplace. The change was effective September 1.
Commenting on today's announcement, OutsourceOne founder and president Bill Mehus explained that the company has already moved well beyond just benefit administration into dependent audits, wellness, private exchanges, Defined Contribution Health Plans, consumer directed health and benefits choices, payment processing, provider management and demand management. "We need a more representative company name to encompass the breadth of our product families," he said.
Why "Cielostar ( pron: see-ellow star)"? Mehus says the name was selected because it represents the "broader vistas" in today's changing health and benefits marketplace.
Mehus also explained that the company is changing its current branded lines of businesses into four distinct product families. They are: OutsourceOne, which will continue to provide backroom administration; BenefitReady, the company's core benefit administration business; Mykydos, which are the direct to consumer products, and Cielostar, which will cover private insurance exchanges, payment processing and wellness offerings.
Since 1988 OutsourceOne has offered comprehensive benefits administration solutions providing a combination of both technology and service. The proprietary BenefitReady platform facilitates Online Enrollment, Eligibility Data Feeds, Private Exchanges, Aggregated Billing & Reconciliation, COBRA/Retiree, FSA/HRA/HSA, and Call Center Services.