Lighthouse1 Announces Best of Breed HSA Platform January 1, 2008
Lighthouse1 OnDemand™ new HSA Solution focuses on the needs of healthcare administrators.
Minneapolis, MN (PRWEB) December 11, 2007 -- Lighthouse1, the industry leading provider of consumer driven healthcare (CDH) administration solutions, announced today they are formally launching the Lighthouse1 OnDemand™ HSA Solution from beta to general availability on January 1, 2008. The company's new HSA solution provides a flexible HSA Administration platform with integration technology for secure back-end custodial integration.
"I think we've really developed the first truly 'go to market' HSA strategy for administrators in the CDH field," said Cindy Neis, Executive Vice President of Product and Delivery at Lighthouse1. "We've built a platform that is completely configurable. Plus, with the Lighthouse1 multi-tenant, private-label capabilities, our customers can brand the HSA Solution, within a CDH product set, to deliver a completely seamless experience for consumers." Neis added the Lighthouse1 OnDemand™ Solution controls all of the money movement and funds management, with the custodian providing processing and treasury control.
The Lighthouse1 OnDemand™ HSA Solution is built into the company's consumer driven healthcare administration platform, a CDH plan and financial management hub for administrators, employers, consumers, healthcare claims exchange and debit card networks. Each account holder accesses all CDH plans including HSA via their own secure portal. Consumers can enroll online to establish both a custodial and an investment account, and to make their own election changes. The new Lighthouse1 OnDemand™ HSA Solution makes it easy to access and manage funds, including competitive, non-proprietary investment options.
Lighthouse1 OnDemand™ is one of the first CDH administration providers to offer an entirely paperless process for administrators and participants in HSA, HRA, FSA and Transit Plan accounts "Some HSA companies are really touting their new online capabilities, but at Lighthouse1 we've been providing healthcare administration providers with paperless processing for years now. Rather than focus on boilerplate online features, our goal was to build a 'best in breed' solution in terms of HSA administration platform capabilities. I believe we've done just that," said Julie Gansen, Lighthouse1 EVP, Client Services. Gansen added that Lighthouse1 worked with three primary partners during the beta phase of the HSA product. Many new features have been incorporated into the solution based on feedback from beta users. The Lighthouse1 OnDemand™ HSA Solution has been in beta phase since July 1, 2007.
Due to its phenomenal popularity with third party administrators and healthcare providers in the CDH market, Lighthouse1 has experienced an enormous surge in its customer base in 2007. The company expects to process more than a billion dollars in transactions by the end of this year.
About Lighthouse1
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 www.lighthouse1.com.
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