Lighthouse1
and Evolution Benefits Announce
Partnership
CDH Industry Leaders Join to Create
Innovative Debit Card Solution
MINNEAPOLIS,
April 10, 2007 –
Lighthouse1
and Evolution Benefits announced today
they have formed a partnership through
which a broad array of current and
potential customers can use both
companies’ products as a single
solution. Lighthouse1 is the industry
leading provider of consumer driven
healthcare benefits administration
solutions. Evolution Benefits is an
award winning provider of electronic
consumer driven healthcare payment
services, including prepaid employee
benefits debit cards. Under the terms of
this agreement, Lighthouse1 can now
offer its customers the
Evolution Benefits
card capabilities within its Lighthouse1
OnDemand™ platform to deliver a special
purpose debit card for use with consumer
driven healthcare accounts including
FSAs, HRAs, and HSAs.
“By expanding our debit card
capabilities, our clients can in turn
offer more options to their customer
base. Our member base is growing
rapidly, and this partnership will help
Lighthouse1 stay a step ahead of that
growth by continuing to offer more
innovative solutions,” said Jeff Fritz,
CEO and founder of Lighthouse1.
“We are pleased to have this opportunity
to offer our services through and in
connection with the Lighthouse1
platform. We believe that our leading
auto-substantiation, technology and card
service capabilities will give
Lighthouse1 an enhanced one-stop package
to offer its customers,” said Robert E.
Patricelli, CEO of Evolution Benefits.
In addition, Lighthouse1 announced it
has brought in Victoria Nipple, an
industry veteran and debit card expert
to lead this initiative. The
partnership between Evolution Benefits
and Lighthouse1 provides several
additional benefits to Lighthouse1
customers. Evolution Benefits brings a
high rate of auto-substantiation,
eliminating volumes of paper receipts
required to substantiate benefit card
transactions. The Evolution Benefits
solution combined with Lighthouse1
OnDemand™ allows members to have more
than one account on a single card,
essential for employers with multiple
consumer driven healthcare options.
Debit card use has accelerated the
growth of consumer driven healthcare by
reducing the administrative overhead and
paperwork associated with those plans.
The Evolution Benefits solution combined
with Lighthouse1 offers seamless, real-time
integration for administrators and
healthcare providers via a Web-based
architecture.
About
Lighthouse1
Lighthouse1 delivers Consumer Driven Healthcare (CDH) administration software solutions including Lighthouse1 OnDemand™, the high performance Software as a Service (SaaS) solution, to resolve challenges in the administration of Section 125, 105, 132 and other pre-tax spending programs in the healthcare and employee benefits industry. Its mission is to use the latest technology and services to assist and support CDH administrators in the management of healthcare account services. Lighthouse1 OnDemand™ allows third party administrators and healthcare providers to manage services for employer plans that include: Flexible Spending Accounts (Medical and Dependent Care), Transit and Parking, Health Reimbursement Arrangements and Health Savings Accounts. More information is available at
www.lighthouse1.com.
About Evolution Benefits
Evolution Benefits, Inc., headquartered
in Avon, Connecticut, began operation in
2002 with a mission to provide
innovative payment services for the
evolving consumer-directed benefits
movement. Its primary product, the
Benny™ Prepaid Benefits Card, applies
advanced payment and patented
auto-substantiation technologies to FSAs,
HRAs and HSAs. EB’s core
auto-substantiation technologies were
patented in 2007 and other patents are
pending. Evolution Benefits powers the
card programs of more than 145 managed
care and administrative services
organizations and covers more than 4,400
employers, including 50 of the nation’s
top-ranked Fortune and Forbes companies.
Visit
www.EvolutionBenefits.com for
more information.
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