SOURCE: RepayMe

July 10, 2007 14:00 ET

RepayMe™ and Evolution Benefits Extend Technology Partnership With Health Savings Account (HSA) Integration

Benny™ Prepaid Benefit Card Access Offers More Convenient HSA Transactions

SAN DIEGO, CA--(Marketwire - July 10, 2007) - BenSoft, Inc., the pioneer of web-based consumer driven healthcare (CDHC) administration software, has extended its partnership with Evolution Benefits to offer the Benny Prepaid Benefits Card to health savings account (HSA) plan members. This robust HSA product provides proven multi-account coordination and is available with the integrated RepayMe-Benny platform.

The market-leading RepayMe software-as-a-service is a cost-effective solution for third party administrators (TPAs), health plans, and large employer groups to manage today's complicated benefit plans in compliance with IRS guidelines. RepayMe's seamless integration with Evolution Benefits provides rapid and reliable access to Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA), Section 132 Transportation Parking Accounts, and now Health Savings Accounts (HSA) combined with Limited FSA Accounts on a single Benny Prepaid Card.

"In this emerging consumer driven healthcare market, administrators demand technology designed to assist their participants in making financially responsible healthcare decisions," stated Tom Horan, RepayMe's founder and CEO. "Evolution Benefits offers innovative product features and excellent service, and this HSA extension of the RepayMe-Benny® real-time integration meets a current market need."

"Benny is an ideal vehicle to deliver and manage HSAs, encouraging program participation through increased convenience. Combining the Benny Prepaid Benefits Card technology with RepayMe software-as-a-service means rapid implementation, lower start-up costs and now, integrated access to all account types," said Kevin Blank, executive vice president at Evolution Benefits. "We're excited to further our relationship with RepayMe and together bring innovative product combinations to market."

The RepayMe-Benny HSA program offers an array of Morningstar highly rated funds and core money-market accounts giving consumers the ability to direct funds into long-term investment vehicles.

About RepayMe

RepayMe, a wholly owned trademark of BenSoft, Inc., is the pioneer of web-based benefits administration technology for the management of consumer driven healthcare (CDHC) reimbursement accounts. RepayMe is the leading Software-as-a-Service (SaaS) solution designed specifically for Third Party Administrators (TPAs), health plans and self-administrating employers seeking a cost-effective FSA / HRA / HSA / S132 solution. RepayMe provides a flexible and comprehensive system to meet today's complicated healthcare plan designs, including integrated real-time debit card options and an automated Business Processing Outsource (BPO) service. Over 2,500 employers' benefit plans are administered using RepayMe. For more information, visit www.repayme.com.

About Evolution Benefits

Evolution Benefits, Inc., headquartered in Avon, Connecticut, began operation in 2002 with a mission to provide innovative payment services for the evolving consumer-directed benefits movement. Its primary product, the Benny™ Prepaid Benefits Card, applies advanced payment and patented auto-substantiation technologies to FSAs, HRAs, and HSAs. EB's core auto-substantiation technologies were patented in 2007 and other patents are pending. Evolution Benefits powers the card programs of more than 145 managed care and administrative services organizations and covers more than 5,100 employers, including over 50 of the nation's top-ranked Fortune and Forbes companies. Visit www.EvolutionBenefits.com for more information.

Contact Information

  • RepayMe PR Contact:
    Larissa Scors Anderson
    (619) 858-2650 x213
    Email Contact

    Evolution Benefits PR Contact:
    Anne Carpenter
    860-678-5561
    Email Contact