As the cost of healthcare rises, so does the demand for consumer-driven health plans.
Evolution1 and our Partners serve more than 7 million consumers, making us the nation’s largest electronic payment, on-premise and cloud computing healthcare solution that administers FSAs, HRAs, HSAs, VEBAs, Wellness and Transit Plans.
Our Lighthouse1 and PayDirect solutions are powerful administrative platforms that meet more than 1,200 unique plan designs, simplify the user experience, and completely automate workflow. Our third-party administrator, financial institution, health plan and benefits broker Partners use our platforms to offer flexible, customized solutions to their clients that deliver these valuable benefits to their employees and customers:
Flexible Spending Accounts (FSAs)
Flexible Spending Accounts (FSAs) are tax-advantaged financial accounts that can be set up through employers’ cafeteria plans in the United States. An FSA allows an employee to set aside a portion of his or her earnings to pay for qualified expenses as established in the cafeteria plan, most commonly for medical expenses but often for dependent care or other expenses. Money deducted from an employee's pay into an FSA is not subject to payroll taxes, resulting in a substantial payroll tax savings.