SOURCE: Acclaris

Acclaris

May 10, 2016 09:47 ET

Acclaris Debuts Benchmarking Tool for Benefits Administrators

Gives Administrators Easy Access to Meaningful Business Reports to Drive Informed Decisions

TAMPA, FL--(Marketwired - May 10, 2016) - Acclaris, a leading Software as a Service (SaaS) technology and services provider for consumer-directed accounts, today announced the general availability of its new benefits benchmarking tool. The advanced reporting dashboard now gives benefits administrators a way to quickly get a strategic snapshot of current account information and in-depth trend analysis to help them make business decisions and better advise employers.

"Understanding how their business is changing in real-time will help our clients stay ahead in an increasingly competitive market," noted Carlos Hernandez, vice president of strategic alliances, Acclaris. "Our new benchmarking and analytics capabilities deliver rapid access to critical business intelligence. Customers can see how they stack up against their peers and spot important trends and shifts as they happen so they can make smart business decisions and successfully navigate the changing benefits landscape."

Serving the nation's largest health plans, benefit consultants and financial institutions, Acclaris provides health plan and reimbursement account administration for 1.8 million consumers, working for 6,700 employers, including more than 40 Fortune 500 employers. From that massive pool of data on health savings account (HSA), flexible spending account (FSA), health care reimbursement accounts (HRA) and defined-contribution account usage, the new benchmarking tool gives administrators real-time data access to monthly, quarterly and annual trending information and reports.

Acclaris now offers a variety of benchmark report types, including:

  • Cash vs. Investment - Overview of the total cash balance of all accounts and the total investment balances of all accounts over time
  • Key Account Metrics - Summary grid of key metrics on balances, investments, net account growth, deposits, withdrawals, etc.
  • Quarterly Contributions and Withdrawals - Benchmark comparison showing the deposits received versus deposits spent during a given quarter
  • Quarterly Deposits Spent - Benchmark of the percentage of deposits received during a given quarter that were spent
  • Saver-Spender Analysis - HSA-specific benchmark report that shows the percentage of accounts falling into four defined categories: spenders, savers, hybrids and super spenders
  • Vintage Balances and Accounts - Report showing the average balance of accounts by year the accounts were opened, comparing metrics for one employer to a larger group of employers or for all of one administrator's employers to all employers of multiple administrators

Each report allows administrators to filter the data and view it in different ways based on their own business needs and preferences. In addition, the reports can also be printed or downloaded as CSV, PDF or XLS files.

"The consumer-directed health care era is quickly changing the benefits landscape," said Acclaris CEO Dean Mason. "Benefits administrators need a broad view of what is happening across their business, and how things are trending across their employer base and peer group. Giving them easy access to the most meaningful business benchmark reports will help them make smarter business decisions for themselves and their employers."

ABOUT ACCLARIS

Acclaris provides the technology and services that health plans, benefit consultants, private exchanges and financial institutions rely on to deliver health care and reimbursement accounts. Acclaris stands out from the competition for its operational efficiency, configurable (SaaS) technology and service delivery at scale. Acclaris helps some of the nation's largest health plans, benefit consultants and financial institutions deliver a range of innovative account options and an exceptional consumer experience under their own brand. Meeting even the most demanding and complex client needs, Acclaris provides account-based healthcare plan administration for 1.8 million consumers working for 6,000 employers, including more than 40 Fortune 500 employers. A Willis Towers Watson company, Acclaris is part of the Willis Towers Watson's Exchange Solutions segment. Learn more at acclaris.com.

Contact Information

  • Media Contact:
    Erica Camilo
    Connexa Communications for Acclaris
    Email contact

    610.639.5644