WALTHAM, Mass.--(BUSINESS WIRE)--Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, today announced it has partnered with Picwell, next-generation decision support company, to more broadly support the benefits lifecycle. With greater influence across the full spectrum of healthcare benefits, Alegeus clients can empower consumers to make smart benefit choices during open enrollment.
Low consumer health and financial fluency has been well documented. According to a soon-to-be-released poll around 2019 open enrollment experiences, thirty percent of employers did not help their employees understand or make their benefit decisions, leaving nearly half of consumers dissatisfied with their open enrollment experience and one out of four unclear whether they were enrolled in the right combination of health plan and accounts.
“Leveraging machine learning, creating dynamic models and applying artificial intelligence to big data sets will help employers and their employees make better choices while shaping the future of healthcare benefits,” said Steven Auerbach, Alegeus CEO. “As part of our Smart Account initiative, the Picwell technology will help our clients deliver an open enrollment experience that drives results and a seamless consumer experience.”
“We match consumers to the right plan during enrollment by predicting future care considerations, estimating out-of-pocket expenses, and accounting for personal preferences,” said Matt Sydney, Picwell CEO. “We use an advanced data science methodology, that represents billions of medical claims for more than 40 million people, to evaluate the factors consumers care about and produce a holistic set of predictive outcomes.”
Alegeus clients can fully integrate Picwell’s AI-driven and white-labeled technology into their existing enrollment experience via their Benefit Administration platform or they can embed Picwell’s capabilities directly within their open enrollment communications and campaigns.
To learn more, click here to join Alegeus and Picwell for an upcoming webinar, "Turbocharge Your CDH Participation with AI & Intelligent Decision Support."
Picwell is a healthcare technology company providing leading enterprise solutions to enhance healthcare benefits and improve the consumer experience. Picwell's flagship offering is a SaaS-based decision support product that uses artificial intelligence to match individuals to the right health benefits during enrollment by predicting future care considerations, estimating out-of-pocket expenses, and accounting for individual preferences. Other solutions support consumerism and high-deductible health plan adoption, consumer engagement, and risk management.
Alegeus is the market leader in consumer-directed healthcare (CDH) solutions, offering the industry’s most comprehensive platform for the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care, and commuter accounts), the industry’s most widely-used benefit debit card, and powerful engagement solutions to help consumers maximize savings and optimize spending for their healthcare. Over 350 clients – including health insurance plans, third party administrators and financial institutions – leverage Alegeus’ deep expertise and proven technology to administer benefit accounts for more than 30 million members and process more than $9.1 billion in consumer healthcare payments annually. As the healthcare and benefit markets continue to evolve, Alegeus delivers solutions that enable clients to evolve their service offerings, operate their businesses more efficiently, and focus on their customers. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.