A big win for healthcare expense-tracking platform Simplee, fresh off its $6 million Series A from earlier this month: the company is now announcing a partnership with top HSA provider in the U.S. ACS (a Xerox company). This is the first major HSA partner for Simpleee, which now introduces its service to ACS|BNY Mellon’s The HSA Solution’s 800,000 members.
While perhaps not as exciting as a brand-new, Instagram-like Facebook Photos app (I’m so downloading that), Simplee is one of those companies solving a real-world challenge that has a big impact on our lives: health care expense management. The company takes a consumer-friendly angle to the problem with its service, which helps patients track their bills and payments, while also visualizing, in something of a Mint.com-like style, what their current situation looks like.
The dashboard shows things like total costs, how much you’ve paid out-of-pocket, your deductible, how many doctor visits you’ve had, and more.
For doctors and insurance companies, the service also helps them get paid faster, because it integrates bill payment on the site itself. A forthcoming feature will automatically spot billing errors, too, which will further reduce issues surrounding the bill payment process.
As for ACS’ The HSA Solution, it’s the most frequently selected HSA product in the U.S. by employers and individuals, and is now the largest administrator of HSAs in the country, based on the number of consumer accounts. Members on The HSA Solution will be able to review, track and pay their medical claims and bills from all insurance providers, including health, PBMs (pharmacy benefit management), dental, and vision insurance carriers, through a co-branded single sign-on portal. As with Simplee’s direct solution, things are simplified (get it? Simplee?) for end users, allowing them to read plain language benefits and claims explanations, get notifications about their deductible usage, track their historical spending and very soon, be alerted to billing errors, as noted above.
This partnership is going to allow Simplee to scale its service significantly, and is the first of many still in the pipeline. Stay tuned.
