Alegeus, a consumer-directed healthcare solutions provider, and Picwell, a decision-support firm, have partnered to offer consumers a broader range of support options during open enrollment.
Under the agreement, Alegeus clients can integrate Picwell’s white-labeled technology into their existing enrollment Benefit Administration platform or embed its capabilities within their open enrollment communications and campaigns.30 percent of employers didn’t help their employees understand or make their benefit decisions during 2019’s open enrollment. #HR #HRTech @Picwell @Alegeus Click To Tweet
Picwell provides healthcare and benefits technology. Its flagship product is a SaaS-based decision-support solution that uses AI to predict future care needs, out-of-pocket expenses and individual preferences to match individuals and health benefits during enrollment.
Alegeus is a logical partner. Its platform supports the administration of healthcare benefit accounts including FSAs, HSAs, HRAs, wellness incentives, dependent care and commuter accounts. It also offers a benefit debit card and engagement solutions to help consumers “optimize spending” for their healthcare. The company says it has some 350 clients, including health insurance plans, third party administrators and financial institutions.
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Alegeus CEO Steven Auerbach believes his company’s platform has the capabilities to help employers and employees make better choices. “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,” he said.
In announcing their partnership, Alegeus and Picwell cited a soon-to-be-released study that found 30 percent of employers didn’t help their employees understand or make their benefit decisions during 2019’s open enrollment. That left nearly half of consumers dissatisfied with their experience and 25 percent unsure of whether they’d enrolled in the right combination of health plan and accounts.
Brian Colburn, Alegeus’s senior vice president of corporate development and strategy, told Employee Benefits News that the partnership with Picwell could be especially helpful to employees as they try to understand the differences between options such as HSAs and FSAs. “Research is clear that consumers still don’t understand the value of tax-advantaged healthcare benefit accounts like FSAs, HRAs and HSAs,” he said.
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