[August 31, 2016] |
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WEX Health Expands WEX Health Cloud Capabilities
WEX
Health, a WEX Company and an award-winning healthcare financial
technology platform provider, recently released new features and
functionality to its WEX
Health Cloud solution. The enhancements strengthen the
industry-leading solution as well as WEX Health partners' position in
the marketplace.
The release reflects WEX Health's ongoing commitment to consumer
engagement, account growth, and efficiency:
Engagement - Proactive communication about account activity
provides timely, relevant information and peace of mind to consumers. Consumers
using WEX Health Cloud can receive an expanded set of text alerts about
activity on their consumer-driven healthcare (CDH) account. Specific
activity tracked includes payments or contributions to their health
savings account (HSA), notional payments, and the mailing of CDH-related
debit cards. Additionally, consumers can receive a text alert whenever a
debit card purchase is authorized and an email notification when
sensitive personal data (such as address) has changed on their account.
Account growth - Additional plan designs provide a platform for
new possibilities, and responsive communications prompt consumers to
complete steps for opening their HSA. New complex,
multi-tier coinsurance plan designs open a new realm of possibility for
administrators who solve for complex health reimbursement arrangements
(HRAs) by allowing for an individual as well as a family tier max to be
tracke with each tier defined on the plan. Additionally, this complex
benefit structure can be combined with any of the existing flexible
deductible structures for HRAs. New customizable email options for HSAs
allow administrators to send friendly reminders to consumers who have
not completed all of the necessary steps to open an HSA.
Efficiency - Simplified workflow for employers and increased
automation for administrators improve overall value and satisfaction. Employer
self-service gets a boost with a new and improved, easy-to-use interface
for widely used contribution scheduling functionality. And, the addition
of a new employer claims funding option (configurable by plan) tackles
yet another administrator manual process through automation and
simplification.
"The latest features and functionalities in WEX Health Cloud enable
consumers to become more engaged in their healthcare, expand options for
employers, and increase the overall operational efficiency for
administrators," said Todd Reynolds, technology healthcare officer, WEX
Health. "All of the enhancements help us and our partners further
deliver on our mission to simplify the business of healthcare."
About WEX Health At WEX Health, we simplify the business of
healthcare. We do that through WEX Health Cloud, a cloud-based
healthcare financial management platform that drives efficiency for
benefit administration technology, consumer engagement, and advanced
billing and payments. Our network of partner organizations enables us to
deliver our industry-leading and award-winning solution to 200,000
employers and more than 17 million consumers across the United States
and Canada. Together we take the complexity out of defined contribution,
HSAs, HRAs, FSAs, VEBAs, PRAs, premium billing, public and private
health insurance exchanges, COBRA, wellness plans, and transit plans.
Learn more at www.wexhealthinc.com,
and follow WEX Health at @WEXHealthInc.
About WEX Inc. WEX Inc. (NYSE: WEX) is a leading provider of
corporate payment solutions. From its roots in fleet card payments
beginning in 1983, WEX has expanded the scope of its business into a
multi-channel provider of corporate payment solutions representing more
than 10 million vehicles and offering exceptional payment security and
control across a wide spectrum of business sectors. WEX serves a global
set of customers and partners through its operations around the world,
with offices in the United States, Australia, New Zealand, Brazil, the
United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and
its subsidiaries employ more than 2,500 associates. The Company has been
publicly traded since 2005, and is listed on the New York Stock Exchange
under the ticker symbol "WEX." For more information, visit www.wexinc.com
and follow WEX on Twitter (News - Alert) at @WEXIncNews.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160831005938/en/
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