Today’s launch follows three years of development to create the first fully integrated HSA solution for Canada’s brokerage and broker community.
PRESS RELEASE
– FOR IMMEDIATE RELEASE
PreAxia Introduces First Paperless HSA Service in Canada
CALGARY, November, 2011 – PreAxia Health Care Payment Systems Inc introduces their automated platform for managing Health Spending Accounts (HSAs) in Canada. Today’s launch follows three years of development to create the first fully integrated HSA solution for Canada’s brokerage and broker community. Through the use of Internet technology, PreAxia allows HSA brokers to more easily offer and manage HSA accounts. PreAxia technology simplifies fund-management, claims adjudication, transaction processing and on-line health benefit administration, through a broker’s own web site. This automation results in cost savings for both HSA brokers and the companies that purchase these services.
An HSA is a special bank account to set aside funds for personal health care. Similar in ways to an RRSP, this account offers tax advantages to both employers and employees. Unlike the more traditional insurance plans, HSAs provide employers and employees with greater control in both the amount of funds invested and how the funds are used. These accounts are available through health insurance brokers and financial advisors. More information on HSA accounts can be found at PreAxia’s broker web sites which are accessible through www.PreAxia.com.
With PreAxia, Brokerage Firms and Brokers can create their own health spending account program. The system provides the tools to establish a privately branded health spending account product as well as design a web site and marketing materials to complement the brand. The platform also provides tools to manage new customer relationships and an automated enrolment process. “This is an extremely sophisticated technology that we believe will be embraced by every HSA agent in the industry. We have eliminated all the broker, employer and employee paperwork from HSA management. PreAxia provides the administrative expertise, technology and tools to help our broker community to succeed. We allow brokers to spend less time on administration and focus on the personal relationship part of their business”, commented Perry Shoom, PreAxia’s Vice President of Marketing.
For Small to Medium-Sized Businesses, HSAs are an attractive way to provide health care options for employees while controlling costs. Using the PreAxia platform, employers determine the amount of money they wish to deposit into an HSA. Employees use these funds to pay for a broad range of health care services. PreAxia’s platform provides the on-line tools to manage the plan, generate reports, communicate with employees, submit claims and be reimbursed for health related expenditures.
“A great deal of planning and thought went into this product” commented Tom Zapatinas, PreAxia’s President and CEO. “Our goal to build a technical solution that would bring value to everyone in the HSA community, I am proud to say, has succeeded beyond our most optimistic expectations” added Mr. Zapatinas.
PreAxia offers a Free Webinar for professionals interested in learning about the company’s automated & paperless HSA Management Solution. Interested individuals should send an e-mail to webinar@PreAxia.com with “Request Webinar Details” in the subject line.
PreAxia Health Care Payment Systems Inc. (www.PreAxia.com) provides HSA brokers, employers and employees with a comprehensive set of software applications for managing their client relationships and HSA accounts through a web browser.
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Media Contact: Nelson Hudes, Hudes Communications International (905)660-9155