Waltham, MA — January 24, 2017 — Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, today announced that Flores & Associates, a national CDH administrator, has migrated to the Alegeus platform to power its account-based health benefit products. The Alegeus platform empowers Flores to deliver industry-leading service alongside the market’s most robust account and engagement capabilities, creating unique healthcare experiences and differentiated value for their customers.
Alegeus offers the industry’s most comprehensive CDH platform, which combines account-based solutions to help consumers save and pay for their care with HSAs, FSAs, HRAs, and more. It also provides engagement tools to empower consumers with meaningful support at critical “moments of truth” in their healthcare journey, helping them optimize their healthcare spending and maximize their healthcare savings.
Alegeus worked collaboratively with Flores, and its proprietary administration system, to customize an end-to-end solution and partnership that met their unique business needs. Because the Alegeus platform offers open architecture, a robust integration toolkit, and real-time APIs, Alegeus could seamlessly integrate Flores’ proprietary claims administration system with the Alegeus platform for HSA administration and debit card processing. This allows Flores to deliver a comprehensive CDH product and a seamless consumer experience across all account types and channels.
“We are extremely pleased to have made the transition to the Alegeus platform. The thoughtful planning and teamwork associated with our transition has positioned Flores to deliver a more integrated and robust CDH solution to our clients,” said Mario Flores, CEO of Flores & Associates. “The very short implementation period ran very smoothly and in a manner that exceeded our expectations. The implementation team’s level of customer service, responsiveness and diligence are a testament to the quality of the team and leadership at Alegeus. We look forward to a long and successful partnership.”
“As with most conversions, Flores was sensitive to the implementation process – knowing that a migration of this size could have significant impact on both employers and participants,” said Steven Auerbach, Alegeus CEO. “In less than 60 days, we began rolling out the Alegeus solution with no down time for their 85,000 CDH customers. We are happy to be the partner that has positioned Flores for its next phase of growth.”
According to a recent CNBC article, half of all employers may offer HSA-eligible health plans within two years, up from just 31 percent today. And, according to the 2016 Midyear Devenir HSA Research Report, HSA accounts increased 25 percent year-over-year and estimates that by the end of 2018, the HSA market will exceed $50 billion in assets being held over 27 million accounts. Now in partnership with Alegeus, Flores can fully scale to capture this market growth by delivering a best-in-class solution.
About Flores & Associates
Flores is a leading national administrator of tax advantaged consumer based reimbursement plans such as health and dependent care spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs) and qualified transportation expenses (QTEs). Additionally, Flores handles COBRA administration and billing services for employers. Based in Charlotte, NC, Flores has emerged as the leader in this field through the use of innovative technology, dedicated professionals, and an uncompromising commitment to superior service.
Alegeus is the market leader in consumer directed healthcare 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 300 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.