Growing adoption of Single Sign-on™, DirectPay™, and Balance Display™ make it easier for account holders to capitalize on expanding FSA and HSA eligibility rules, while avoiding FSA balance forfeitures and achieving healthcare savings goals
DALLAS, Sept. 26, 2023 /PRNewswire-PRWeb/ -- Health-E Commerce®, parent brand to FSA Store® and HSA Store®, has announced that its suite of technology integrations that are designed to reduce friction and simplify the experience for more than 75 million people who are enrolled in FSAs and HSAs is seeing growing adoption by leading third-party administrators (TPAs). The suite of technology capabilities, which include Single Sign-on™, Balance Display™, and the patent-pending DirectPay™ integrate seamlessly and securely into employee benefits portals, reducing HR burden and improving the employee account experience.
Health-E Commerce is a family of online stores that exclusively sell products that are deemed FSA and HSA eligible by the Internal Revenue Service. The company has historically been an innovator in the healthcare e-commerce industry, offering free FSA and HSA account calculators, an HSA Expense Dashboard, and a comprehensive, searchable online eligibility list. The company's suite of technology integrations meets consumer demand for convenience and security, as an estimated 82% of Americans currently use some form of digital wallet, including browser and in-app purchases or in-store checkout using a mobile phone.
To deliver this level of simplicity for FSA and HSA users, Health-E Commerce partners with TPAs to integrate its suite of solutions into their benefits portal. Advantages of the new capabilities include:
- Single Sign-on allows participants to access their FSA Store or HSA Store account from their benefits portal with one, secure login. This eliminates password churn for participants and customer support teams, and gives users easy access to manage multiple accounts across partner platforms.
- DirectPay allows account holders to securely integrate payment information and eliminate the need to enter their card information each time they shop at FSA Store or HSA Store. This improves the user experience, increases participant engagement in their health and benefits, and supports the corporate health and benefits goals of employers. Meanwhile, because purchases are autosubstantiated, DirectPay alleviates claim volumes and reduces customer support needs.
- Balance Display allows participants to see their balance in real time as they shop on FSA Store or HSA Store. By giving participants easy, reliable access to their current balance, employer sponsors and TPAs can help decrease the likelihood of FSA balance forfeitures, while giving participants the confidence they need to use their account without having to call customer service.
According to proprietary data from a Health-E Commerce shopper survey, 53% of shoppers say they prefer to shop where their payment information is stored; 72% prefer cardless payment options; and 74% said they abandon their cart at least sometimes because they don't have their card information handy.
"The way people shop is changing, and so are their expectations for payment options. Our suite of technology solutions acknowledges this shift and gives employers and TPAs the resources and support they need to reduce friction at every point in the FSA or HSA journey for employee plan participants and for HR teams," said Steve Jackson, senior vice president of sales for Health-E Commerce.
About Health-E Commerce
Health-E Commerce is the parent brand to FSA Store, HSA Store and WellDeservedHealth, a family of online stores that serve the 70+ million consumers enrolled in pre-tax health and wellness accounts. The company also created Caring Mill, a popular private-label line of health products that benefits Children's Health Fund and enables customers to make a donation with each purchase. Since 2010, the Health-E Commerce brands have led the direct-to-consumer e-commerce market for exclusively pre-tax health and wellness benefits. Health-E Commerce plays an essential role in expanding product eligibility for important new categories within the list of eligible medical expenses.
Media Contact
Barbara Tabor, Health-E Commerce, 651-230-9192, [email protected], www.health-ecommerce.com
SOURCE Health-E Commerce
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