Press release

Alegeus Unveils Industry’s First Smart HSA to Bolster Healthcare Spending and Saving Decisions

Sponsored by Businesswire

the market leader in consumer-directed healthcare (CDH) solutions, today
announced that the industry’s first Smart HSA that features machine
learning and artificial intelligence (AI) was presented for the first
time during the 2019 Alegeus Client Conference. At the event, clients,
prospects, and other industry stakeholders saw a detailed demonstration
of the new Alegeus innovation that delivers a more intuitive,
personalized, and self-guided account experience.

This press release features multimedia. View the full release here:

Alegeus Unveils Industry’s First Smart HSA to Bolster Healthcare Spending and Saving Decisions (Grap ...

Alegeus Unveils Industry’s First Smart HSA to Bolster Healthcare Spending and Saving Decisions (Graphic: Business Wire)

This next generation of the existing Alegeus solution provides broader
support for the benefits lifecycle and greater influence across the full
spectrum of healthcare benefits. It will guide employers and brokers to
create smart plan designs and empower employees to make smart benefit
choices during open enrollment and throughout the year to get the most
value from every dollar they spend on out-of-pocket healthcare expenses.
Capabilities demonstrated during the show included:

  • A modern, native mobile interface that integrates new health
    management capabilities with existing CDH self-service capabilities
  • Data-driven tools, including a personalized ‘Smart Score,’ that guide
    consumers to make intelligent choices on where to best spend and save
    their healthcare dollars
  • AI-based recommendations that use historical data to drive better
    future outcomes (e.g. “You might have paid too much for this service.”)
  • A virtual medicine cabinet for managing monthly drug costs
  • Long-term saving recommendations based on healthcare spending habits
    (e.g. “You have a chronic condition that will require you to have X
    dollars saved for retirement.”)
  • Intelligent prompts throughout the app to optimize the member
    experience for existing self-service functions beyond HSAs (e.g. “It
    looks like you need to provide a receipt for your latest debit card
  • Year-end recommendations about funding and account enrollment that are
    based on the past year of health and wealth activity (e.g. “It looks
    like you didn’t hit your deductible or max out your HSA. Next year, we
    recommend the following funding levels.”)

“As consumer financial responsibility for healthcare grows, consumers
and employers will no longer tolerate poor experiences. This is why we
have worked diligently to deliver this market-disrupting innovation,”
said Steven Auerbach, Alegeus CEO. “By providing a more personalized
consumer experience and delivering meaningful insights to better guide
spending and saving recommendations, the Smart HSA is well positioned to
redefine the benefits selection process and revolutionize the industry.”

The Smart HSA is expected to be fully available to the market in Q1
2020. For more information please click

About Alegeus
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.