New HealthEquity Partnership Enhances Employee Access to Healthcare
Forty percent of workplace-insured Americans reported deferring care due to cost.1 With HPAs, employers can offer employees and their families the option to better manage copays over time for medical, dental, vision, Rx and behavioral care—it even works for pet care at the vet. This safety net improves access to essential care, eliminates the hassle and embarrassment of credit applications, and saves employees money on interest and fees.
“HPAs help employees who might forgo care due to the worry over their ability to pay and fear of racking up high-interest debt,” said
Nearly half of adults are not able to pay an unexpected medical bill of
“We continue to receive feedback indicating that people appreciate not having to worry about the cost of a doctor visit or procedure,” said Goldberg-Hirsh. “The consistent word in the feedback is ‘dignity.’ Our people don’t have to face the embarrassment of saying, ‘I can’t afford that.’ They know they can use their Health Payment Account.”
The HPA benefit complements consumer-directed benefits such as Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Accounts (HRAs). With the HPA, employees can select the medical plan that best fits their families’ needs, without worrying about draining their savings or going into debt.
No credit checks are required for HPA users, and there is no impact on credit scores for using a Health Payment Account. Members have control over their HPA payment with flexible payment options and repayment methods. Meanwhile, employers save both near term as employees choose less expensive health coverage and long term as better access to treatment reduces high-cost claims.
“As health expenses continue to soar, our partnership with
To learn more about how the HealthEquity Health Payment Account, and our partnership with Paytient is steering the future of health benefits, visit www.healthequity.com/hpa.
References
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2 The HPA card is a line of credit that is subject to approval and works with providers in approved merchant categories. All charges made to the HPA card must be repaid according to the terms outline in the cardholder agreement.
3 Hamel, Liz, Lopes, Lunna, Montero, Alex, Presiado, Marley, Americans’ Challenges with HealthCare Costs. In Health Costs Issue Brief, (KFF,
About
About Paytient
Paytient is a healthcare technology company that helps companies ensure their health plan members can easily access and afford healthcare. The Paytient card unlocks access to care with interest-free credit, while the app allows members to better manage and organize their healthcare spending. Founded in 2018, Paytient partners with 1000+ enterprise clients in the
Media Contacts:
HealthEquity
Amy Cerny
acerny@healthequity.com
Paytient
Michelle Kafka
michelle.kafka@kafkamediagroup.com
Source: HealthEquity, Inc.