Welcome to the Evolution1 blog. We are passionate about simplifying the business of healthcare and are involved in several efforts to support this initiative. Here you will find our latest thoughts on the industry, information about the events we attend and sponsor, details regarding helpful webinars and more. Please dig in for opportunities to learn more about Evolution1, win cool schwag, and stay informed with the latest healthcare and technology developments in our industry.
When it comes to all things HSA, our leadership is evident, and we keep building on our strength and momentum. Our HSA account base has grown more than 227 percent over the last 24 months, and our HSA product within 1Cloud by Evolution1® has been enhanced and continues to lead the industry in features and functionality.
To further deliver on our mission to simplify the business of healthcare, we’re rolling out a series of resources to help our Partners further explain the benefits of HSAs. Check out our new infographic and our consumer education video, and register for our upcoming healthcare reform webinar series: Healthcare Reform Opportunities – Hear It From the Experts: What’s Coming with Healthcare Reform.
We wouldn’t be able to deliver on our mission without our Partners. Here’s what one of our Partners has to say about our HSA offering: “With Evolution1, you get ‘one platform for all’, which allows us to offer a variety of options through one card and one portal for both the consumer and the employer,” said Craig Schrolucke, vice president of operations and innovations at BusinessPlans. “They all log-in in one place and get all the information they need in one spot. It enables us to easily stack our offerings and makes it work very smoothly.”
Our thanks to Craig and all Evolution1 Partners!
Evolution1 has been named to Modern Healthcare’s second annual Healthcare’s Hottest list! The recognition program honors the fastest-growing companies and organizations in the healthcare industry as measured by revenue growth. Evolution1 is one of only 40 companies nationwide to be named to the list. “Our success is reflective of our Partners’ wins and achievements, and with them, we remain committed to simplifying the business of healthcare while reducing costs for all involved.” Thank you to our Partners for your continued commitment to Evolution1!
Read the press release here.
The Employee Benefit Research Institute (EBRI) recently conducted a study on high-deductible health plans linked to health savings accounts and found consumers saving an average of 25% in total health care spending in the first year. This is a huge reduction in costs for consumers that have experienced a doubling of their out of pocket healthcare costs over the last decade.
With savings like these it's no surprise HSA enrollment continues to grow at a rate of 22.5% year over year, with 9 out of 10 employers expected to offer an HDHP with an HSA by 2015. It's a fact: HSAs are combatting the increase in out of pocket expenses for consumers, enhancing engagement, and shifting responsibility to help employees save, providing the ability to put those savings to use to pay for future expenses by making smarter healthcare decisions today.
This week the Kaiser Family Foundation released a new animated video in their series on health care reform. The fun laymen's terms video explains major changes in health care that will result from the Affordable Care Act, clarifying a lot of confusion about the impact of Obamacare. You can watch the video on their website, as well as access other consumer-friendly resources like a health insurance subsidy calculator, an interactive ACA implementation timeline, frequently asked questions, and a ten-question quiz. If you have time today be sure to check out the new video. We can almost guarantee you'll learn something new, or at least see something in an illuminated light!