FARGO, N.D.--(BUSINESS WIRE)--WEX Health, a WEX Company and an award-winning healthcare financial technology platform provider, has introduced significant new features and functionality to its WEX Health Cloud platform. The company’s product roadmap investments—focused on engagement, account growth, and efficiency—are reflected in the customization capabilities designed to help WEX Health partners further drive consumer engagement.
Engagement
On the mobile front, an enhanced message center
provides consumers with additional notifications to help manage their
accounts. Fingerprint login for Android users has also been added,
enabling consumers to log in to the WEX Health Cloud Mobile App with the
touch of their finger.
Advanced messaging options in the Consumer Portal enable partners and consumers to create customized experiences and help consumers take control of their financial health. The Healthcare Savings Goal meter, a new engagement tool for consumers, helps them personalize their healthcare savings account goal and track it against contributions. Combined with a customizable investment education page that allows partners to provide their own text, videos, and documents, consumers can educate themselves on the benefits of investing health savings account (HSA) dollars.
“As the market for our products becomes more sophisticated, a critical differentiator for our partners is their ability to guide consumers to maximize their health benefit accounts,” said Matt Dallahan, senior vice president, strategy and product development at WEX Health.
One such partner is HSA Bank, a division of Webster Bank, N.A. The organization recently released the HSA Bank Health & Wealth Index℠ for 2018, a new report that explores how today’s consumers are faring when it comes to their financial and physical health. More than 1,000 U.S. adults were surveyed about their health plan enrollment status, health practices, ability to pay for health-related expenses, and level of engagement in their own health and wealth. The results showed that 41 percent never save money for future healthcare expenses and 35 percent never consider cost when selecting health services.
“While the survey shows that consumers are taking a proactive approach when it comes to their physical health, that’s not necessarily the case with their financial health,” said Chad Wilkins, executive vice president of Webster Bank, and head of HSA Bank. “Tools like the Healthcare Savings Goal meter can help consumers become more engaged in their financial health by encouraging consumers to save for health-related expenses, which are one of the largest costs consumers will face in retirement.”
Account Growth
To help its partners—industry-leading
third-party administrators, health plans, financial institutions,
exchange partners, and payroll providers—drive account growth, added
features and functionality include a new investment experience for
consumers which includes enhanced customization options for the
Investment Summary page.
Efficiency
The introduction of the Administrator Dashboard
brings administrators new summary and detailed dashboard information as
well as drill-down capabilities for deep analysis. Additionally, “go
green” language can now be included on certain WEX Health COBRA and
Direct Billing communications.
WEX Health Partners—who connect WEX Health to more than 300,000 employers, ultimately helping the company serve more than 25 million consumers across the United States and Canada—will gather April 30-May 2 at The Westin Kierland Resort & Spa for Partner Conference 2018.
About WEX Health
We simplify the business of healthcare
through WEX Health Cloud, a cloud-based healthcare financial management
platform that drives efficiency for benefit administration technology,
consumer engagement, and advanced billing and payments. Our partner
organizations enable us to deliver our industry-leading and
award-winning solution to 300,000 employers and more than 25 million
consumers. Together we take the complexity out of defined contribution,
HSAs, HRAs, FSAs, VEBAs, PRAs, premium billing, public and private
health insurance exchanges, COBRA, wellness plans, and transit plans.
Learn more at www.wexhealthinc.com,
and follow WEX Health at @WEXHealthInc.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of
corporate payment solutions. From its roots in fleet card payments
beginning in 1983, WEX has expanded the scope of its business into a
multi-channel provider of corporate payment solutions representing 11
million vehicles and offering exceptional payment security and control
across a wide spectrum of business sectors. WEX serves a global set of
customers and partners through its operations around the world, with
offices in the United States, Australia, New Zealand, Brazil, the United
Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its
subsidiaries employ more than 3,000 associates. The Company has been
publicly traded since 2005 and is listed on the New York Stock Exchange
under the ticker symbol “WEX.” For more information, visit www.wexinc.com
and follow WEX on Twitter at @WEXIncNews.
