Minneapolis, MN (PRWEB) April 12, 2007
Lighthouse1 and Evolution Benefits announced today they have formed a partnership through which a broad array of current and potential customers can use both companies' products as a single solution. Lighthouse1 is the industry leading provider of consumer driven healthcare benefits administration solutions. Evolution Benefits is an award winning provider of electronic consumer driven healthcare payment services, including prepaid employee benefits debit cards. Under the terms of this agreement, Lighthouse1 can now offer its customers the Evolution Benefits card capabilities within its Lighthouse1 OnDemand™ platform to deliver a special purpose debit card for use with consumer driven healthcare accounts including FSAs, HRAs, and HSAs.
"By expanding our debit card capabilities, our clients can in turn offer more options to their customer base. Our member base is growing rapidly, and this partnership will help Lighthouse1 stay a step ahead of that growth by continuing to offer more innovative solutions," said Jeff Fritz, CEO and founder of Lighthouse1.
"We are pleased to have this opportunity to offer our services through and in connection with the Lighthouse1 platform. We believe that our leading auto-substantiation, technology and card service capabilities will give Lighthouse1 an enhanced one-stop package to offer its customers," said Robert E. Patricelli, CEO of Evolution Benefits.
In addition, Lighthouse1 announced it has brought in Victoria Nipple, an industry veteran and debit card expert to lead this initiative. The partnership between Evolution Benefits and Lighthouse1 provides several additional benefits to Lighthouse1 customers. Evolution Benefits brings a high rate of auto-substantiation, eliminating volumes of paper receipts required to substantiate benefit card transactions. The Evolution Benefits solution combined with Lighthouse1 OnDemand™ allows members to have more than one account on a single card, essential for employers with multiple consumer driven healthcare options.
Debit card use has accelerated the growth of consumer driven healthcare by reducing the administrative overhead and paperwork associated with those plans. The Evolution Benefits solution combined with Lighthouse1 OnDemand™ offers seamless, real-time integration for administrators and healthcare providers via a Web-based architecture.
About Evolution Benefits
Evolution Benefits, Inc., headquartered in Avon, Connecticut, began operation in 2002 with a mission to provide innovative payment services for the evolving consumer-directed benefits movement. Its primary product, the Benny™ Prepaid Benefits Card, applies advanced payment and patented auto-substantiation technologies to FSAs, HRAs and HSAs. EB's core auto-substantiation technologies were patented in 2007 and other patents are pending. Evolution Benefits powers the card programs of more than 145 managed care and administrative services organizations and covers more than 4,400 employers, including 50 of the nation's top-ranked Fortune and Forbes companies. Visit http://www.EvolutionBenefits.com for more information.
Lighthouse1 delivers Consumer Driven Healthcare (CDH) administration software solutions including Lighthouse1 OnDemand™, the high performance Software as a Service (SaaS) solution, to resolve challenges in the administration of Section 125, 105, 132 and other pre-tax spending programs in the healthcare and employee benefits industry. Its mission is to use the latest technology and services to assist and support CDH administrators in the management of healthcare account services. Lighthouse1 OnDemand™ allows third party administrators and healthcare providers to manage services for employer plans that include: Flexible Spending Accounts (Medical and Dependent Care), Transit and Parking, Health Reimbursement Arrangements and Health Savings Accounts. More information is available at http://www.lighthouse1.com.
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