September 27, 2016 3:03 AM ET

Health Care Technology

Company Overview of Evolution1, Inc.

Company Overview

Evolution1, Inc. develops and operates a cloud-based platform that helps simplify healthcare account administration. The company offers WEX Health Cloud, a cloud-based healthcare financial management platform that drives efficiency for benefit administration technology, consumer engagement, and billing and payments. Its platform takes the complexity out of defined contribution, HSAs, HRAs, FSAs, VEBAs, PRAs, billing, public and private health insurance exchanges, COBRA, wellness plans, and transit plans. The company serves employer groups and consumers. It offers its solutions through a network of partner organizations in the United States and Canada. The company was formerly known as Evolut...

5050 Lincoln Drive

Suite 100

Edina, MN 55436

United States

Founded in 2000

Phone:

952-908-9056

Fax:

952-746-5090

Key Executives for Evolution1, Inc.

Chief Executive Officer and President
Chief Financial Officer
Senior Vice President of Service Delivery and Operations
Senior Vice President of Strategy and Product Development
Vice President
Compensation as of Fiscal Year 2016.

Evolution1, Inc. Key Developments

WEX Health Releases New Features and Functionality to its WEX Health Cloud Solution

WEX Health released new features and functionality to its WEX Health Cloud solution. The enhancements strengthen the solution as well as WEX Health partners’ position in the marketplace. The release reflects WEX Health’s ongoing commitment to consumer engagement, account growth, and efficiency: Engagement – Proactive communication about account activity provides timely, relevant information and peace of mind to consumers. Consumers using WEX Health Cloud can receive an expanded set of text alerts about activity on their consumer-driven healthcare (CDH) account. Specific activity tracked includes payments or contributions to their health savings account (HSA), notional payments, and the mailing of CDH-related debit cards. Additionally, consumers can receive a text alert whenever a debit card purchase is authorized and an email notification when sensitive personal data (such as address) has changed on their account. Account growth – Additional plan designs provide a platform for new possibilities, and responsive communications prompt consumers to complete steps for opening their HSA. New complex, multi-tier coinsurance plan designs open a new realm of possibility for administrators who solve for complex health reimbursement arrangements (HRAs) by allowing for an individual as well as a family tier max to be tracked with each tier defined on the plan. Additionally, this complex benefit structure can be combined with any of the existing flexible deductible structures for HRAs. New customizable email options for HSAs allow administrators to send friendly reminders to consumers who have not completed all of the necessary steps to open an HSA. Efficiency – Simplified workflow for employers and increased automation for administrators improve overall value and satisfaction. Employer self-service gets a boost with a new and improved, easy-to-use interface for widely used contribution scheduling functionality. And, the addition of a new employer claims funding option (configurable by plan) tackles yet another administrator manual process through automation and simplification.

Connecture, Inc. Announces Addition of Consumer Directed Health, Including HSA/HRA/FSA Account Management and Premium Billing Powered by WEX Health (Formerly Evolution1)

Connecture, Inc. announced the addition of Consumer Directed Health (CDH), including HSA/HRA/FSA account management and premium billing to its suite of broker and multi-carrier exchange services. The services will be powered by WEX Health (formerly Evolution1).

Evolution1 Releases New Features and Functionality to 1Cloud by Evolution1

Evolution1 has released new features and functionality to 1Cloud by Evolution1. The enhancements make healthcare benefit transactions easier and faster for consumers. New functionality enables consumers to initiate health savings account (HSA) transactions on the go - anytime and anywhere with 1Mobile by Evolution1. The updated version of 1Mobile includes a new “HSA Transaction” button that quickly and easily enables consumers to conveniently make HSA distributions and contributions. When distributing funds from their HSA, consumers can pay themselves to an established bank account, or they can pay someone else, such as a provider. For contributions, consumers may use 1Mobile to initiate a funds transfer from a personal bank account into their HSA. Additionally, an enhanced Consumer Portal Message Center enables consumers to stay up to date about account activity through “View My HSA Tax Statements”, an automated message to advise consumers when a new HSA tax statement is available, and “Manage My Notification Preferences”, which empowers consumers to personalize the way that they receive information about their accounts. The enhancements also bring benefits to Evolution1 partners, which include health plans, key financial institutions/banks, third-party administrators, and innovative health services companies such as Medica.

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