Third party administrators are struggling to increase FSA & HRA profits in an increasingly competitive benefits market where revenue and margins are consistently being squeezed. Obstacles to increased profits include:
- Benefit card substantiation is expensive
- TPA revenue and margins are under pressure
- Manual labor costs are high
FlexMinder™ Automation Cures FSA & HRA Pain
FlexMinder helps TPAs:
- Reduce manual processing costs by 50%
- Win new business and increase adoption rates
- Improve substantiation of benefit card claims process
- New source of revenue from online FSA Shop for your participants
FlexMinder is a software company that automates manual processes related to the FSA & HRA reimbursement process. We have reduced claim handling costs for TPAs by 50% and helped them win new business by giving them a new software tool that they can offer to their customers. We can automatically download and prepare claims on behalf of the participant. We also improve the debit card substantiation process by minimizing the need to involve the participant.
FlexMinder’s innovative automation gives you a competitive edge. Participants will love your new service because it makes FSAs and HRAs easy. This translates into happy V.P.’s of HR and more business for you (and higher participation rates). A consumer friendly dashboard monitors participant healthcare expenses and FSA/HRA balances to ensure no money is lost at the end of their plan year.
How It Works
FlexMinder makes FSAs and HRAs easy for participants and TPAs:
- Monitors participant’s health accounts and automatically identifies out-of-pocket expenses
- Identifies available funds in participant’s FSA/HRA accounts
- Sends participant an email with a “Reimburse Me” button
- Automatically submits claim to TPA with the required documentation
- TPA then sends the participant cash. It’s that simple!
White labeled solution – you take all the credit!
FlexMinder offers a custom look and feel, so you can brand it as your own and stand out from the competition. And, we even provide single sign on to make logging in as simple as possible for your clients and participants.
Easy to Implement, Easy to Use
FlexMinder is easy to implement – you can be up and running in a matter of weeks. We offer various levels of integration depending on your infrastructure. We also provide an API to provide a data feed directly into your system.
Help your participants spend FSA dollars on eligible items, and increase revenue from their purchases with the FSA Shop. This online store is part of participants’ online portal, and gives participants an easy way to purchase FSA eligible items. Best of all, you receive a portion of the revenue from these purchases.
Request a Demo!
Let us show you how FlexMinder works, and how it can help you cut manual claim processing costs and differentiate yourself from your competitors.
Request a Demo