ConnectYourCare, (CYC) — a national leader in consumer-directed health care account solutions — today announced the launch of ClaimsAlly, an advanced technology designed to simplify all health care spending accounts for active and retired employees requiring substantiation, including Flexible Spending Accounts (FSA), Health Reimbursement Arrangements (HRA), and Dependent Care Assistance Programs (DCAP). ClaimsAlly substantially improves efficiency and the overall claims experience for participants.
The proprietary ClaimsAlly platform streamlines processes for both CYC participants and administrators. The new technology boosts auto-adjudication rates, the process of paying claims submitted or denying them after comparing claims to the benefit or coverage requirements, by optimizing health plan claims feeds and the employee’s payment card swipe process.
It also drastically increases auto-substantiation rates, which describes the ability to automatically verify the eligibility of purchases using electronic evidence. “The pilot results for ClaimsAlly point to substantial improvement in approval speed, nearly 80 percent in testing, which ultimately will increase participant satisfaction,” says Steve Grieco, CEO, at ConnectYourCare.
“We are pleased to be able to offer another technology to our smartCDH™ platform designed to help employees save more of their hard-earned money, while reducing the frustrating, time-consuming pay-and-chase that has been associated with FSAs, HRAs, and DCAP accounts in the past,” Grieco continues.
In a December 2016 survey of Flexible Spending Account holders conducted by CYC, 49.9 percent of participants said decreasing the need to submit documentation for eligible expenses was the account change they’d most like to see – making it the most selected response. ClaimsAlly thus addresses the need for more user-friendly means of substantiating account usage.
Automated, hands-free, and seamless to both participants and employers, ClaimsAlly also reduces:
CYC’s new ClaimsAlly solution will be added to the existing suite of proprietary consumer-directed health care products, including the company’s patent pending HSA On Demand®, which revolutionized HSA administration since its inaugural launch via some of the largest companies in America. Since inception, HSA On Demand has proved to be a market tested and robust solution, helping families pay hundreds of millions in medical bills.
As one of the largest and most responsive providers of health care savings accounts and award-winning solutions, our approach to consumer-directed health care is rooted in creating better, more efficient connections among the people who provide benefits, the people accessing services, and the people who deliver services. Blue chip organizations across the country turn to ConnectYourCare for our highly rated customer service and best-in-class member experience, advanced educational tools for better-informed choices, acceleration of savings with ROI efficiencies and simplification of processes with brilliant customer-focused solutions. There is a unique solution for every company and employee, and we won’t stop working until we connect you with the perfect one. For more information, visit ConnectYourCare.com or follow us on Twitter @ConnectYourCare.
Weis PR, Inc.