Lighthouse1 Benefits Card Delivers Increased Value

MINNEAPOLIS--(BUSINESS WIRE)--Lighthouse1, the industry leading provider of consumer driven healthcare (CDH) software administration solutions, announced outstanding progress with its proprietary Lighthouse1 Benefits Card. The debit card provides consumers with direct and easy access to their health account funds, resulting in reduced paperwork and consumer time-savings. The Lighthouse1 Benefits Card is available for existing and new consumers, now providing convenient access to funds across all Lighthouse1 benefit plans including its HSA, HRA, FSA, and Transit/Parking accounts. In addition, the company reported a low, nearly 0% Account Balance Reconciliation rate, signifying the superior integrity of the Lighthouse1 Benefit Card in managing account balances compared to other industry debit cards.

“Consumers can enjoy an easy, convenient and flexible way to automate their HSA, HRA and FSA reimbursements and enrollment. Administrators will experience standard setup with ample lead time, real-time authorizations and no additional fees for clients who wish to add the Lighthouse1 Benefits Card to an existing benefit plan.”

“Providing a high-quality debit card with access to multiple ‘stacked’ accounts all on a single card is a ‘win win’ for consumers and administrators,” said Jeff Brunsberg, Chief Market Officer for Lighthouse1. “Consumers can enjoy an easy, convenient and flexible way to automate their HSA, HRA and FSA reimbursements and enrollment. Administrators will experience standard setup with ample lead time, real-time authorizations and no additional fees for clients who wish to add the Lighthouse1 Benefits Card to an existing benefit plan.”

The Lighthouse1 Benefits Card is unique in that consumers are allowed direct access to their benefit account funds making claim payment automatic with no need for reimbursement by direct deposit or check. Consumers with an existing Lighthouse1 Benefits Card can simply add a new “purse” to their existing card, whereas first-time consumers receive a new debit card stacked with purses appropriate to their unique benefit design. Lighthouse1 now offers the card for its HSA solution, launched with tremendous success earlier this year, along with a single login for online access to information on multiple accounts. Administrators can also set fees according to their own marketplace and competitive conditions. Together, these features are particularly important to both administrators and consumers entering the busy fall open enrollment season.

“The Lighthouse1 Benefits Card provides additional functionality to the Lighthouse1 HSA Solution, which has proven to be the most robust solution of its kind in the consumer driven healthcare market,” said Laine Brantner, Chief Operations Officer. “Just like all of our CDH administrative solutions, the Lighthouse1 Benefits Card is several steps ahead of our competitors in terms of ease of use, real-time processing and flexibility.”

About the Lighthouse1 OnDemand™ HSA Solution

The Lighthouse1 OnDemand™ HSA Solution is built into the company’s CDH administration platform, a plan and financial management hub for administrators, employers, consumers, and debit card networks. Each user utilizes one platform via a secure portal for HSA access and account management. Consumer account holders may make their own election changes and can easily access funds, including an online enrollment that establishes a custodial as well as an investment account. The Lighthouse1 HSA Solution includes competitive, non-proprietary HSA investment options so account holders can choose how to invest the funds accessed through single sign-on from the participant portal.

About Lighthouse1

Lighthouse1 delivers consumer driven healthcare (CDH) 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.