New online portal enables HSA custodians to offer an array of health and wealth tools for consumer-directed healthcare consumers
MILWAUKEE–(BUSINESS WIRE)–Metavante Corporation, the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today announced the availability of its redesigned HSA solution. Reengineered to reflect the findings of Metavante-sponsored research detailing what consumers look for when researching and using HSAs, Metavante’s HSA solution now features multiple enhancements including deep education and healthcare decision support tools coupled with the ease of online enrollment — all delivered through a convenient Web-based portal.
“Information and education have always been the keys to HSA success. Industry research has proven that, with the right information, consumers are more likely to embrace HSAs. The product will succeed in proportion to the clarity of education around HSAs and making them easy to understand, access and use,” said John Reynolds, division president, Metavante Healthcare Payment Solutions. “Understanding these concerns, we’re empowering our HSA custodian clients to provide clear messaging that highlights the purpose and benefits of HSAs. We’re giving them the financial calculators that enable consumers to get meaningful previews of how much they can save and learn if an HSA will work for them. We also drastically reduced many of the enrollment process inefficiencies – and we’ve done all this online.”
Key HSA Portal Enhancements:
Metavante has developed HSA online portals for employees enrolled in an HSA; employees not enrolled, but looking into an HSA; employers; financial institutions and advisors/brokers. Through these portals, Metavante delivers detailed information about HSA plans and what they mean to companies and employees, to prepare employers planning an HSA rollout. Engineered with healthcare cost estimators and HSA calculators to indicate how much an account holder can expect to save over time in growth and interest, the consumer-oriented public portal helps people make informed decisions about their benefit selection. It also presents educational materials in multiple formats from video, to fast facts, to detailed information with links for advanced learning at the U.S. Treasury or Internal Revenue Service Web sites.
Building on that functionality, the employee portal enables integrated HSA management for deposit and investment accounts, and enables access to accounts for trading of mutual funds and stocks — with HSA consolidated statements available. Consumers and employees can also find links to prescription drug, healthcare and hospital pricing, and quality comparison information in the portal library. All functionality flows intuitively through the portal from initial interest in an HSA, to deciding whether it’s the right benefit choice, to enrollment, learning more about using the account, and accessing detailed account and funds management tools.
Metavante Healthcare Payment Solutions is helping transform the healthcare payments industry by accelerating the exchange of information and funds between patients, payers, providers and financial institutions. Forging new connections between payment and data systems to quicken the claims process, Metavante expedites benefits eligibility verification, claims substantiation, medical remittance processing, and payment and explanation of benefit distribution. With Web-enabled tools, an HSA platform, multi-purse benefit debit cards and combination eligibility/payment cards, Metavante enables integrated consumer benefit account management of HSA, FSA, HRA, and dependent care and transportation accounts.
Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, and business transformation services. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE:MI). On April 3, 2007, Marshall & Ilsley Corporation announced its plans to split Metavante Corporation and Marshall & Ilsley Corporation into independent publicly traded companies.