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SHPS Launches Proprietary Spending Accounts Platform
Date:2/24/2012

LOUISVILLE, Ky., Feb. 24, 2012 /PRNewswire/ -- SHPS, Inc. has developed a new platform for administering health spending accounts that provides employers of all sizes with more options and unprecedented flexibility.

The new platform, announced today, offers access to a much broader range of plan configuration and delivery options. The platform enables all health spending accounts to be administered as a multiple account service, with only one website, single sign-on, statement, and debit card—capabilities previously unavailable in the marketplace.

According to SHPS president and CEO Rishabh Mehrotra, the new platform—which features significant improvements to health savings accounts and health reimbursement arrangements capabilities—allows SHPS to support employers as they deal with complex changes brought on by healthcare reform.

"With healthcare reform guidelines mandating state-based exchanges by 2014, we've seen employers reevaluating options for providing coverage to their employees," said Mehrotra. "A significant number of our clients are moving to consumer-directed health plans. As one of the top spending account providers in the country, it was important for us to invest in a platform that could support our clients' needs well into the future."

Mehrotra also recognized a growing desire among clients to gain access to a highly flexible and configurable health spending account platform, to secure a single vendor to coordinate multiple accounts and to ensure that cost saving features were a part of the offerings.

Applying best practices from 25 years of experience working with some of the largest and most sophisticated employers in the country, SHPS designed a state-of-the-art software system that is scalable to meet the needs of employers of all sizes, includes a full suite of spending account products, portable to ensure health plans can be altered without having
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SOURCE SHPS, Inc.
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