Why we're here
The original flexible spending arrangement (FSA) was introduced in the Revenue Act of 1978. Decades later, the health spending benefit category* has expanded to include DC-FSAs, FSAs, LP-FSAs, LSAs, HRAs, HSAs, rewards, supplementals, and more. Some offer tax savings and some direct member spending for government health plans, but all share one common goal: provide access to needed funds for healthcare expenses. Today, over 112 million Americans have access to one or more health spending benefits.
As healthcare costs continue to rise, the individuals and organizations that use and offer health spending benefits will depend on them even more. But when you look behind the curtain of most programs today, you'll find a hodgepodge of legacy tech solutions that create barriers to benefit design and access.