By Lighthouse1
As health care costs climb, so does your need to offer cost-saving, consumer-driven health care (CDHC) account solutions that help you – and your employees – contain costs and increase wellness.
But what makes a true difference in a CDHC solution? The solution must address five key areas:
- Reduce health care costs
- Increase employee productivity and wellness
- Offer anytime/anywhere mobile or Web access
- Provide paperless claims processing
- Get started quickly and cost-effectively
Reduce Health Care Costs
The first – and perhaps the most obvious – area a CDHC solution must address is to reduce health care costs. Because health savings accounts (HSAs), health reimbursement accounts (HRAs), and flexible spending accounts (FSAs ) are designed to be part of a comprehensive benefit package, employers, third party administrators (TPAs) and brokers can enjoy significant savings in health premiums.
FICA and income tax savings also accompany HSAs and FSAs, while HRA accounts offer FICA tax savings only. The adoption of healthy habits also can drive additional savings as can efficiency gains on a CDHC technology platform such as Lighthouse1 OnDemand. This innovative Software-as-a-Services (Saas) solution enables more than 100 leading nationwide benefits administrators, financial institutions and health plans to serve more than 20,000 employers and 2.5 million consumers on a single, high performance platform.
Increase Employee Productivity and Wellness
Employers provide tools and processes in their companies every day to help increase employee productivity. Similarly, providing tools helping them make healthy lifestyle choices can improve their well-being while reducing long-term benefits costs. Lighthouse1 offers tools and services designed to help you deliver helpful, high-impact wellness programs.
For example, Lighthouse1’s Learn CDHC offers an individualized interactive presentation explaining HSA, HRA, and FSA accounts. By using My Personal Health Suite, employees can complete a health and productivity assessment and choose from 13 different six-week, online, science and human behavior-based wellness programs.
Offer Anytime/Anywhere Mobile or Web Access
It’s becoming increasingly important and necessary for a CDHC solution to offer anytime/anywhere mobile or Web access. A fully integrated, customizable technology platform such as Lighthouse1 OnDemand enables employers’ third party benefits administrator to choose from 1,100 unique plan designs to tailor a solution meeting their specific needs.
HR staffs, administrators and employees have 24/7/365 access to account information, claims entry screens, and helpful reports using secure, Web-based portals. Additionally, if your CDHC solution has mobile capabilities (such as Lighthouse1 Mobile), employees can check available account balances and manage their accounts via their mobile devices.
Provide Paperless Claims Processing
Equally important is to provide paperless claims processing. Employees need and deserve hassle-free processing, which also reduces the burden on HR and support staff. Look for a solution such as the Lighthouse1 OneCard™ where claims are substantiated and processed automatically, reducing the need for manual reimbursement requests and provider payments.
Get Started Quickly and Cost-Effectively
The final key area is for employers to look for a solution that enables them to get started quickly and cost-effectively. The technology platform should enable integration with leading health plans, data transmission from payroll and HR systems, single sign-on to other web sites and automated enrollment processes.
About Lighthouse1:
Lighthouse1 and its partners serve more than 2.5 million consumers, making Lighthouse1 the nation’s largest web-based healthcare solution that manages HSAs, HRAs, FSAs, and Transit Plans. It is the only solution available today that meets more than 1,100 unique benefit plan designs, simplifies the user experience, and satisfies workflow management needs of administration partners, employers, and consumers. Visitwww.lighthouse1.com for more information.
