Alegeus Technologies Names Steve Auerbach as Chief Executive Officer
Published on April 15th, 2014
Alegeus Technologies, the market leader in healthcare and benefit payments, today announced that Steven G. Auerbach has joined the company as Chief Executive Officer and a member of its Board of Directors, effective April 10, 2014. Mr. Auerbach brings over 25 years of experience in healthcare benefits, including roles as President of Connextions and senior leadership positions with UnitedHealth Group, ChannelPoint and Cigna.
The Alegeus benefit account administration and debit card processing platform is currently used by over 350 clients to deliver FSAs, HSAs, HRAs and other benefit accounts to 17.5 million members, from over 150,000 employer groups. Alegeus processes more than $5 billion in consumer healthcare payment transactions annually. The company recently announced significant enhancements to its HSA capabilities, making it the most comprehensive solution for financial institutions, health plans, TPAs and benefit brokers seeking to offer HSA accounts to their employer group customers.
With a singular focus on making customers successful, Mr. Auerbach has a proven track record of driving organizational growth by offering differentiated value, providing excellent customer service, and creating an outstanding consumer experience. His extensive background and experiences make him uniquely qualified to lead Alegeus to the next stage of growth as the organization continues to make significant investments to extend its platform capabilities, enhance client service, and improve the consumer healthcare experience at every touch point. Mr. Auerbach will report to Bob Natt, Executive Chairman of Alegeus.
During this time of growth in the consumer directed healthcare market, there is no better person to lead Alegeus than Steve Auerbach,” said Mr. Natt. “Steve is a proven consumer healthcare technology leader with strong experience in scaling business operations for large organizations, serving tens of millions of healthcare consumers. Steve has a strong vision for how our technology will enable Alegeus clients to improve the consumer healthcare experience. This is exactly the right step for Alegeus as the company continues to innovate and grow.
Alegeus has built an industry-leading platform, boasts an impressive roster of clients, and has a strong management team with deep and diversified experience. I couldn’t be more honored to lead the company,” Mr. Auerbach said. “The shift to individual responsibility in healthcare is creating a tremendous opportunity for organizations like Alegeus to provide solutions that empower consumers to become more accountable, make informed choices, and better manage their increasing share of healthcare costs. Alegeus has a solid foundation in place, and is well positioned to add even greater value for its clients and end-users. I look forward to working with Bob Natt and the entire Alegeus team. Together, we will continue to relentlessly focus on our clients, helping them to better serve healthcare consumers with innovative solutions and services.
Mr. Auerbach succeeds Tom Torre, who led Alegeus following the separation of the company from FIS, and helped launch Alegeus as an independent organization. Alegeus is grateful to Mr. Torre for his work to complete the separation of the company from FIS and ready Alegeus for this next stage of growth.
With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based healthcare payment solutions. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. Our partnerships with the industry’s leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 2-3X the market, and with the highest net promoter scores (NPS) in the industry. We never compete with our clients – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.