New collaboration delivers tools, discounts and educational content directly to millions of health plan participants through customized benefits portals
NEW YORK (October 18, 2017) — Two leading consumer-directed healthcare (CDH) companies have teamed up to simplify healthcare and improve the tax-free healthcare account experience for millions of Americans who are enrolled in flexible spending accounts (FSAs) or health savings accounts (HSAs). FSAstore.com/HSAstore.com announced today an expanded partnership to integrate customized educational content, product eligibility information, tools, and resources into the Alegeus CDH administration portal and online consumer experience.
Alegeus, the market leader of CDH solutions, partners with more than 300 third party administrators and health plans to administer a variety of healthcare spending accounts that increase consumer engagement in healthcare. In collaboration with FSAstore.com/HSAstore.com, the only online retailer that exclusively sells HSA- and FSA-eligible products, more than 30 million US consumers will have access to customized educational tools and content, product eligibility information, and discounts on popular items — without ever leaving their member website.
“Easy access to information is key to engaging and empowering people to become savvy healthcare consumers,” said Leslie Antunes, Chief Growth Officer, Alegeus. “When you combine healthcare account information alongside educational tools and resources, you create a place where consumers are supported to optimally use their accounts.”
It’s estimated that 34 million Americans are currently enrolled in FSAs and more than 20 million are enrolled in HSAs. Growth in tax-advantaged accounts is expected to continue as employers increasingly move to HSA-eligible health plans as an employee benefit option. While enrollment in consumer-directed plans continues to grow, consumers often say they lack the knowledge to properly use their spending accounts. In a recent survey, more than half of employees said they knew less about their FSAs than any other employee benefit.
“Making healthcare decisions should be as easy and convenient as shopping for any other consumer product,” said Jeremy Miller, CEO and Founder of FSAstore.com/HSAstore.com. “Our collaboration with Alegeus will create a level of customization and convenience for healthcare purchases that consumers have come to expect in all other areas of life, while giving people access to the knowledge and skills they crave to truly manage their health and their healthcare.”
Alegeus and FSAstore.com/HSAstore.com are presently working to rollout the integrated platform to customers and their employer group members.
FSAstore.com/HSAstore.com was founded to make it simple and convenient to spend, manage, and use an FSA or HSA. FSAstore.com/HSAstore.com is the only e-commerce site stocked exclusively with FSA/HSA eligible products, eliminating any and all guesswork as to what is and is not FSA/HSA eligible. In addition to the 6,000 eligible products available, the site offers educational resources for FSA/HSA holders, including the most comprehensive Eligibility List in the industry and a Learning Center with answers to the most common FSA/HSA questions. FSAstore.com/HSAstore.com accepts all FSA/HSA and major credit cards, offers 24/7 customer service, two-day turnaround for all orders and free shipping on orders $50+ in the continental U.S.
Alegeus is the market leader in consumer directed healthcare solutions, offering the industry’s most comprehensive platform for the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care, and commuter accounts), the industry’s most widely-used benefit debit card, and powerful engagement solutions to help consumers maximize savings and optimize spending for their healthcare. Over 300 clients – including health insurance plans and third party administrators – leverage Alegeus’ deep expertise and proven technology to administer benefit accounts for more than 30 million members and process more than $9.1 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and focus on their customers. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.