Evolution1™ Hosts State-of-the-Industry Update
Evolution1™, the nation's largest electronic payment, on-premise, and cloud computing healthcare solution that administers reimbursement accounts today provided a state-of-the-industry update, made important brand and product name announcements, and highlighted new features and functionality for its solutions and products.
The industry leader in electronic healthcare solutions, Evolution1 and its 450 Partners serve 60,000 employers and more than eight million consumers. Through its solutions and products, Evolution1 and its Partners have saved employers $43 million in administrative costs to date in 2012, eliminated more than 52 million paper claims, and saved $79 million in automation savings.
To address rising healthcare costs and affordability issues, Evolution1 today introduced 1Plan by Evolution1™, its new Defined Contribution solution. 1Plan™ allows employers to use a single, easy-to-administer solution while enabling employees to decide which benefits are best for them.
“1Plan truly is one plan with so many choices,” said Jeff Young, chairman and chief executive officer at Evolution1. “The solution provides one simple way for employers to fund benefits with control over the contribution amounts, but with very little administrative time and effort.”
The defined contribution health model is growing in popularity, with high expectations for consumer-centric communication and education, automated processes, and easy-to-use planning and selection tools. 1Plan enables employers to finally gain control of their benefits budget, save substantial money in taxes and premiums, expand benefit options and choice for employees, and reduce their administrative overhead.
“As a turnkey solution, 1Plan offers an incredible advantage to employers because they will be able to establish a predictable employee benefits budget but still offer the benefit options to attract and retain employees,” said Young.
The company introduced 1View by Evolution1™, the new brand for its consumer control panel. 1View™ contains a number of key enhancements, including changes to the expense tracker and consumer-initiated payment functionalities as well as increased consumer engagement functionality. These new features make 1View even more empowering for consumers.
Also introduced was 1Mobile by Evolution1 ™, the new brand for Lighthouse1 Mobile. Since its launch in June of 2010, 1Mobile™ has grown rapidly in adoption, with nearly 15 percent of account holders using it, an increase of nearly 300 percent in just a year. Today Evolution1 announced groundbreaking enhancements to 1Mobile that allow consumers to file new FSA/HRA claims and submit associated receipt images as well as view and create HSA transactions, all via their mobile device.
Evolution1 continues to build key relationships, signing multi-year partnerships with a number of large health plans and leading third-party administrators that use Evolution1 as their strategic platform of choice. These partnerships solidify Evolution1's leadership as the company continues towards record growth.
To date in 2012, Evolution1 has received a number of prestigious awards and recognitions, including the Institute for HealthCare Consumerism's CEO Leadership Award, the Paybefore Awards, the Marcum Tech Top 40 and the Inc. 500|5000. Additionally, 1Mobile has been nominated for a Mobile Star Award by MobileVillage.
“No one else in the industry provides the single end-to-end consumer experience that Evolution1 does; no one,” said Young. “We will continue to lead the industry with our commitment to research and development, our focus on consumers, and our dedication to quality partnerships.”
Evolution1 and our Partners serve more than 8 million consumers, making us the nation's largest electronic payment, on-premise and cloud computing healthcare solution that administers reimbursement accounts, including HSAs, HRAs, FSAs, VEBAs, PRAs, Wellness and Transit Plans. It is the only solution that offers a single end-to-end user experience, provides innovative auto-substantiation technologies, and automates workflow for Partners, employers, and consumers. It does all this on one technology platform comprised of Lighthouse1™, PayDirect®, the Benny® Benefits Debit Card, Lighthouse1 OneCard™ and integrated web portals. Evolution1 and our Partners are dedicated to delivering value, reducing costs and simplifying the business of healthcare. For more information, visit www.evolution1.com.
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