Third-Party Administrators

Win on technology, not the lowest bid

Image of a business woman in an olive green suite jacket working next to an illustration of the First Dollar dashboard

The Opportunity

Public expectations have changed. With a digital experience on par with everyday tools, TPAs can win today's market.

The Problem

Two-thirds of TPAs rely on two legacy platforms, making TPAs compete on the lowest bid.

The Solution

Stand out from the crowd with tech built after the invention of MySpace.

Why TPAs need better tech

The marketplace has gotten crowded

The health spending benefits landscape has changed. Employers have options, as health plans, banks, and other new market entrants are also bidding to administer FSAs, HRAs, HSAs, LSAs, and more.

Two pie charts showing the CDH market. The first one is the historical market where TPAs were the only player. The second shows today's market with several players in the space, such as banks, health plans, and healthcare startups.

Lost in the crowd

About two-thirds of today's health spending benefits are powered by one of two platform technology providers—all built on a tech stack from the 90's. Without meaningful product differences, TPAs have had to rely on cutting prices to differentiate themselves from the pack.

A pie chart showing that 2/3 of health spending benefits are powered by 1 of 2 platforms.
Internal First Dollar Data
virtual cards

Stop waiting on the mail

Give instant access to funds with virtual cards that go live when members enroll.

embedded investing

Investing with fewer clicks

Offer HSA investing directly within the Health Wallet. That’s tax-free growth without the platform hopping—just like it should be.

Benefits 101

Turn members into experts

From Help Center articles to email and SMS campaigns, we created educational resources for your members to become benefit experts. And all resources can be re-branded under your logo and branding.

BRANDING TOOLS

Make it yours

Customize your Health Wallet solution with your logo, colors, sending domain, and brand identity—down to the last detail. Or don't! We support a variety of brand configurations.

DATA REPORTING

Own your reporting

Get the data you need when you need it. With direct access to complete transaction, account, and org-level reporting, answer employer admin report requests from the Reporting dashboard.

An image of a person writing notes while working on a laptop. Next to the image is a floating line chart illustrating assets under management going up.A pie chart illustrating percentages of Passed, Pending, and Failed KYC/CIP status.
Head shot of Jason Sherman, CEO of Clearwater Benefits
"We needed a full technology stack for pre-tax accounts, lifestyle benefits, rewards programs, and supplemental benefits. With First Dollar, we can simplify the member experience and promote easier HSA access."

Jason Sherman

CEO of Clearwater
Trusted by these TPAs
Clearwater logoBRI logo