2015 Paybefore Awards: Best Health Benefits Delivery
Best use of a corporate-funded prepaid card to deliver health care benefits, including wellness programs and FSA, HSA and HRA programs.
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Best-in-Category: The Alegeus Technologies Benefit Debit Card
Alegeus Technologies
Robust in-house platform for tax-advantaged benefit accounts card to provide a great consumer experience.
Partners: The Bancorp, issuer; MasterCard and Visa, networks; Alegeus Technologies, processor and program manager
Secret Sauce:
- Only wholly owned platform that handles account administration and card processing, which results in real-time versus batch processing; elimination of reconciliation issues; streamlined customer support; customizable authorization rules.
- Nearly 100 percent card penetration for most account types.
- Customizable authorization rules: (a) employer/employee cost sharing, where employee remits separate payment for their share; (b) fixed-dollar authorizations where system approves only amount covered by plan; (c) stacked multiple accounts; (d) participant-by-participant tracking on deductibles.
- Full-feature, white-label mobile app.
- Separate cash purse for reimbursements.
Bottom Line: Benefit account prepaid debit cards have become ubiquitous, but this platform delivers distinct features like custom authorization and stacked multiple cards—that result in maximum card adoption, activation and usage, along with high rates of user satisfaction.
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Winner: PayFlex Card
PayFlex Systems USA Inc.
Aetna Life Insurance Company
MasterCard Worldwide
Prepaid card and companion digital wallet enable purchases through HSA, FSA and commuter programs in addition to employee’s linked personal debit and credit cards.
Partners: UMB, issuer; MasterCard, network; First Data, processor. PayFlex is an affiliate of Aetna Life Insurance Company.
Secret Sauce:
- Card supports full suite of account-based programs, so system analyzes transaction upon swipe to determine which cardholder account should fund the transaction.
- Companion digital wallet for health care, in collaboration with Citi, called Money for Health enables consumers to link a personal debit or credit card and their PayFlex card to pay health care providers. Tracks health care bills and payments in one place.
Bottom Line: Every consumer should have easy access to funds to support his wellness without putting off care due to inability to pay. This program eliminates worry about how those services will be funded and supports better health care decisions for cardholders and their families.
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Winner: HealthEquity Visa Health Account Card and HealthEquity Visa Reimbursement Account Card
HealthEquity
Provides a central hub for members to manage their health finances and thrive in today’s turbulent health care climate.
Partners: Visa, network; HealthEquity Inc., program manager
Secret Sauce:
- Proprietary Web and mobile platforms integrate with members’ health insurance companies, pricing tools, investment opportunities, telemedicine and other resources.
- Robust mobile app facilitates account history, claims management, care payments and receipt documentation.
- Net Promoter Score of 79, versus Costco (71), Apple (71) and Amazon (76).
- Educational tools to maximize health savings opportunities.
- Live agent “expert advisers” available 24/7 to assist members with questions and provide “teaching moments” to maximize health savings and make the most of their benefit account.
Bottom Line: HealthEquity is committed to empower Americans to build health savings for tomorrow and educate members to make better health care decisions. Innovative technology, insight, tools and service are the differentiators.
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