Lighthouse1 Announces Best of Breed HSA
Platform January 1, 2008
Lighthouse1 OnDemand™ announces an HSA
Solution focused on the needs of
Healthcare Administrators
Minneapolis, December
11, 2007
– Lighthouse1, the industry leading
provider of consumer driven healthcare
(CDH) administration solutions,
announced today they are formally
launching the Lighthouse1 OnDemand™ HSA
Solution from beta to general
availability on January 1, 2008. The
company's new HSA solution provides a
flexible HSA Administration platform
with integration technology for secure
back-end custodial integration.
"I think we've really developed the
first truly 'go to market' HSA strategy
for administrators in the CDH field,"
said Cindy Neis, Executive Vice
President of Product and Delivery at
Lighthouse1. "We've built a platform
that is completely configurable. Plus,
with the Lighthouse1 multi-tenant,
private-label capabilities, our
customers can brand the HSA Solution,
within a CDH product set, to deliver a
completely seamless experience for
consumers." Neis added the Lighthouse1
OnDemand™ Solution controls all of the
money movement and funds management,
with the custodian providing processing
and treasury control.
The Lighthouse1 OnDemand™ HSA Solution
is built into the company's consumer
driven healthcare administration
platform, a CDH plan and financial
management hub for administrators,
employers, consumers, healthcare claims
exchange and debit card networks. Each
account holder accesses all CDH plans
including HSA via their own secure
portal. Consumers can enroll online to
establish both a custodial and an
investment account, and to make their
own election changes. The new
Lighthouse1 OnDemand™ HSA Solution makes
it easy to access and manage funds,
including competitive, non-proprietary
investment options.
Lighthouse1 OnDemand™ is one of the
first CDH administration providers to
offer an entirely paperless process for
administrators and participants in HSA, HRA, FSA and Transit Plan accounts "Some
HSA companies are really touting their
new online capabilities, but at
Lighthouse1 we've been providing
healthcare administration providers with
paperless processing for years now.
Rather than focus on boilerplate online
features, our goal was to build a 'best
in breed' solution in terms of HSA
administration platform capabilities. I
believe we've done just that," said
Julie Gansen, Lighthouse1 EVP, Client
Services. Gansen added that Lighthouse1
worked with three primary partners
during the beta phase of the HSA
product. Many new features have been
incorporated into the solution based on
feedback from beta users. The
Lighthouse1 OnDemand™ HSA Solution has
been in beta phase since July 1, 2007.
Due to its phenomenal popularity with
third party administrators and
healthcare providers in the CDH market,
Lighthouse1 has experienced an enormous
surge in its customer base in 2007. The
company expects to process more than a
billion dollars in transactions by the
end of this year.
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