Alegeus Announces Employee Care Card Program to Enable Employers to Financially Support Employees During COVID-19 Crisis
Published on March 25th, 2020
Waltham, MA — March 25, 2020 — In response to the COVID-19 crisis, Alegeus, the market leader in consumer-directed healthcare (CDH) solutions, today announced a new offering, the Employee Care Card, which enables employers to offer targeted financial support for employees to address their most immediate needs as the pandemic continues to unfold. Employees receive these relief funds via a convenient debit card, supported by a simple online experience that allows them to check their balance and view transactions.
The Employee Care Card offers employers more flexibility than cash or gift cards to provide financial aid to their employees as they navigate this crisis. Employers determine the amount they wish to contribute per employee, as well as the type of eligible expenses they want to allow – from groceries and home office supplies to educational supplies and more. Unlike cash or gift cards, employers control how the dollars can be spent, preserve unspent dollars, and gain real-time insight into employee spending trends. All of this comes in a turnkey program that doesn’t add work for already-stretched-thin internal resources.
For Alegeus third-party administrator and health insurance plan clients that already offer account-based benefit programs to employers, the Employee Care Card represents a tremendous new product opportunity to deliver expanded value and to help their customers through a very challenging time in their business. Like all Alegeus products, clients will have the ability to configure and brand program materials and the experience.
“As COVID-19 continues to put tremendous pressure on people, families, businesses and the economy at large, employers are looking for ways to support their employees through this crisis,” said Steven Auerbach, Alegeus CEO. “The Employee Care Card gives them a highly flexible and configurable way to provide meaningful assistance during an unprecedented time.”
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Alegeus is the market leader in consumer-directed healthcare solutions, offering an industry-leading benefits platform, benefit debit card and mobile app that are transforming the way people navigate the U.S. healthcare system. Our next-generation technology simplifies the administration of healthcare benefit accounts (including FSAs, HSAs, HRAs, wellness incentive, dependent care and commuter accounts), and uses data-driven insights to guide consumers to the right coverage, care and savings strategies. More than 350 Alegeus clients – including health insurance plans and third-party administrators – leverage our deep expertise and proven technology to administer benefit accounts for more than 30 million members and to 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 lead consumers to better health and financial decisions. The company is headquartered in Waltham, MA with operations in Orlando, FL and Milwaukee, WI.