The 2023 APEX Award for Partner Excellence was awarded for Consumer Adoption, highlighting Lane Health's ability to grow consumer-driven healthcare business.
NORFOLK, Va., May 22, 2023 /PRNewswire-PRWeb/ -- Lane Health, a leading benefit spending account administrator and healthcare payment and lending platform, announced receipt of an Alegeus Performance Excellence (APEX) Award for Consumer Adoption at the 2023 Alegeus Client Success Summit. This marks the third straight year Lane Health has won an APEX Award, following recognition in 2021 for Innovation and in 2022 for Overall Growth.
"This award is a testament to the continued trust our partners, brokers, clients, and members have placed in us, and we are truly thankful for the opportunity to serve them," said Scott Beck, Chief Revenue Officer at Lane Health. "Our sustained growth is a powerful reminder that relentless focus on innovation and exceptional service can drive positive change by helping employees get the health care they need, when they need it."
Through HSAs, FSAs and HRAs administered by Lane Health, employees have access to a groundbreaking Advance¹ line of credit, issued by WebBank, which provides funds when employees' spending account funds run out. This safety net can empower employees to move to high-deductible health plans (HDHPs) and potentially save money with lower premiums; in fact, Lane Health helped one employer increase HDHP enrollment by 10x in one plan year. In addition, Lane Health HSA account holders had a 30% higher utilization rate² than industry average.
"In a landscape where true differentiators are few and far between, the Advance¹ line of credit is a gamechanger for benefit spending accounts," said Brad Gambill, co-founder and CEO of Lane Health. "For employers seeking to provide unique and innovative employee benefits, the line of credit¹ is a proven solution that can help jump-start employee engagement and spending account adoption at no cost to the employer."
"We are excited to recognize the achievements of great partners like Lane Health," said Mark Waterstraat, Chief Customer Officer at Alegeus. "As a channel-first organization, our partners are our singular priority, and it is so gratifying to honor them for the tremendous work they do to create better lives for consumers. Congratulations on this well-deserved recognition!"
About Lane Health
Lane Health can help make healthcare more affordable and accessible through unique, integrated capabilities to deploy capital into the healthcare delivery system exactly when members need it most. Lane Health's combination of proprietary technology solutions, personalized service, and innovative product lineup positions the company at the forefront of the healthcare and FinTech juncture. Lane Health's industry trailblazing and rapid growth through broker and strategic partner distribution has been recognized with the Alegeus APEX Awards in 2021, 2022 and 2023. Visit http://www.LaneHealth.com to learn more.
¹ Advances issued by WebBank; Advance must be activated before funds can be accessed
² Rate calculated from 2022 internal Lane Health data and EBRI Trends in Health Savings Account Balances, Contributions, Distributions, and Investments, 2011–2021
James Denison, Lane Health, 1 804-218-6912, [email protected]
SOURCE Lane Health