Evolution1 HSA Leadership and Momentum Continues
<0> for Evolution1, 701-499-7215 </0>
, the nation’s largest electronic payment, on-premise, and cloud computing consumer driven healthcare solution, continues strengthening and building on its . , Evolution1’s complete defined contribution solution, delivers the next generation of consumer-directed health plans in a complete multi-account defined contribution solution, powered by the platform. supercharges private insurance exchanges by enabling consumers to budget for and select benefits, shop for insurance, and manage premiums and expenses in a comprehensive, easy-to-use experience.
has grown more than 227 percent over the last 24 months. The HSA product within 1Cloud has been enhanced and continues to lead the industry in features and functionality. New expense tracker capabilities not only allow the import of claims from carrier files, but also enable consumers to opt-in for automatic payments out of their account or for “savers”, which queue up expenses and let consumers take action at a later date.
Employer tools within the make an employer-sponsored HSA program simple to implement with tools and features including online eligibility and contribution management, automated funding processes, and HSA trends reporting. Additional features and functionality include automated integration capabilities for enrollment, contributions, wellness incentives, and health care expenses.
Plus, with , consumers can view HSA (as well as FSA and HRA) account balances and details, track expenses, submit healthcare account claims, and capture, store, and send receipts anytime, anywhere on any iPhone, Android, or tablet device. Consumers may also configure account alerts via text message and send to any mobile device.
As a private-labeled HSA solution, Evolution1 Partners are able to market the solution alongside their suite of products and offerings. The Evolution1 platform enables a single, simplified user experience for HSA accounts as well as other reimbursement accounts: a streamlined web portal allows consumers to easily manage investment elections, request distributions, initiated contributions and more. This online, end-to-end, total consumer-directed HSA management experience is the only one of its kind in the industry.
Delivering on its mission to simplify the business of healthcare, Evolution1 is rolling out a series of resources to help its Partners further explain the benefits of HSAs. The resources include: a case study, , , and a through-Partner go-to-market kit. Additionally, Evolution1 will host an upcoming healthcare reform webinar series: .
“With Evolution1, you get ‘one platform for all’, which allows us to offer a variety of options through one card and one portal for both the consumer and the employer,” said Craig Schrolucke, vice president of operations and innovations at BusinessPlans. “They all log-in in one place and get all the information they need in one spot. It enables us to easily stack our offerings and makes it work very smoothly.”
Longtime Evolution1 Partners such as Discovery Benefits as well as new Partners such as CieloStar and BusinessPlans, Inc. choose Evolution1 because of the company’s powerful administrative platforms that meet unique plan designs, simplify the user experience, and completely automate workflow.
“The HSA industry is extremely competitive, and if you want to differentiate yourself through a value proposition, technology is an instrumental part of that equation,” said Matthew Feir, chief sales and marketing officer at Discovery Benefits. “Evolution1 helps us stay ahead of the pack with technological advancements that are better than our competition.”
According to a new , nearly 15.5 million Americans are covered by HSA-eligible insurance plans, an increase of nearly 15 percent since last year. This year’s census shows that enrollment in HSA plans has more than tripled over the last six years, from 4.5 million enrollees in January 2007 to 15.5 million in January 2013. Evolution1 has quickly become the platform of choice for successfully and effectively managing HSAs.
“We are excited to offer the most technologically advanced CDH administration software and benefits card to our clients,” said Dr. John Reynolds, CEO of CieloStar and former president of FIS Healthcare, which is now known as Alegeus Technologies. “After much due diligence, we determined that Evolution1’s simplified single end-to-end user experience stands above the competition. We’re proud to work with the industry leader and look forward to a long and mutually rewarding relationship.”
“The system is clearly geared to a simplified user experience, which is overlooked by a lot of companies. It was clear in our due diligence that while others talk about forward-thinking technology, Evolution1 is doing it,” said Schrolucke. “We now have one platform for employers and consumers alike which allows us to provide a variety of options and makes everything work incredibly smoothly.”
“Day in and day out, our mission is to simplify the business of healthcare,” said . “Our Partners pursue that same mission, and the growth of and enhancements to our HSA products are driven by our Partners’ successes and requests to ultimately provide a simplified user experience.”
and its Partners serve nearly 500 health plans, third-party administrators, financial institutions, and software providers across the country, providing healthcare and other reimbursement account services – including Defined Contribution, HSAs, HRAs, FSAs, VEBAs, PRAs, Wellness, and Transit Plans – to more than 75,000 employers and more than 9,000,000 consumers.