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With a modern solution for administering health spending benefits, TPAs will win employer deals and reduce administrative costs.
TPA costs are soaring as their administrative teams struggle to process claims and generate reports with legacy tools.
TPAs gain operational efficiencies and improve margins through First Dollar's self-service and automation tools for claims processing, employer onboarding, reporting, and more.
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.
The 2024 SHRM Employee Benefits Survey found that employers offer many health spending benefits to their employees. 60% of employers offer a health savings account (HSA), 63% offer a medical flexible spending arrangement (FSA), 15% offer a health reimbursement arrrangement (HRA), and 4% offer a lifestyle spending account (LSA).
About two-thirds of today's health spending benefits are powered by one of two platform technology providers. For this reason, TPAs have had to rely on cutting prices to differentiate themselves from the pack.
Get things done without starting another email thread. Admin teams leverage the Health Wallet Manager to expedite claims processing, employer onboarding, and reporting.
Design custom lifestyle spending accounts (LSAs), like wellness or remote work programs. Customize per employer needs with controls for cards, claims, and more—all without sending an email or making a ticket request.
Every Health Wallet and Health Wallet Manager event has an API, from the consumer experience to the administrative workflows and core bank functions.
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.
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.
