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August 31, 2015 2:27 PM ET

Health Care Technology

Company Overview of Evolution1, Inc.

Company Overview

Evolution1, Inc. provides cloud-based healthcare software and payment solutions that administer and manage consumer directed accounts and exchange integration solutions. It offers a healthcare accounts administration platform that administrates health savings accounts, health reimbursement arrangements, flexible spending accounts, voluntary employee beneficiary associations, premium reimbursement accounts, defined contributions, wellness plans, and transit plans; a contribution solution that delivers the next generation of consumer-directed health plans; a solution that enables consumers to view account balances and details, submit healthcare account claims, and capture and send receipts on ...

82 Hopmeadow Street

Suite 220

Simsbury, CT 06089

United States

Founded in 2000





Key Executives for Evolution1, Inc.

Chairman and Chief Executive Officer
Chief Financial Officer
Senior Vice President of Service Delivery and Operations
Senior Vice President of Strategy and Product Development
Compensation as of Fiscal Year 2015.

Evolution1, Inc. Key Developments

CBIZ, Inc. Selects Evolution1 as Preferred Partner

Evolution1 continued to strengthen its partner base with the addition of marquee partners such as CBIZ, Inc. Evolution1 converted CBIZ's book of healthcare FSA and HRA accounts from CBIZ's previous vendor. Evolution1 enables CBIZ to now offer a new integrated HSA solution as well as a true multi-account solution. Additionally, CBIZ will now bring mobile capabilities to its clients through the 1Mobile by Evolution1(R) app.

WEX Inc., Evolution1, Inc. - M&A Call

To discuss definitive agreement for WEX to acquire Evolution1 for $532.5 million in cash

Evolution1, Inc. Supports FSA Rollover with Comprehensive Set of Solutions

Evolution1, Inc. offers the most comprehensive set of solutions available to support the recent 'FSA rollover' announcement by the U.S. Department of the Treasury. On October 31, 2013 the Treasury modified its 'use it or lose it' provision, giving employers the option of allowing participants to roll over up to $500 of unused funds at the end of the plan year. Previously, any funds remaining in an FSA at the end of the plan year (or after a grace period) were forfeited to the employer. Through direct and collaborative advocacy with the Treasury, Evolution1 and its Partners were instrumental in the decision. Additionally, Evolution1 has introduced comprehensive, FSA-specific Partner marketing services, resources, and tools – including readiness and employer communication services – to better position and help its Partners capitalize on the market opportunity the provision creates. True to its mission to simplify the business of healthcare, Evolution1’s highly configurable, cloud-based solutions give employers – and ultimately consumers – a 'true rollover solution' that supports: The ability to schedule the rollover date; the ability to provide access to rollover funds on the first day of the new plan year; and the ability to provide access to rollover dollars for expenses in both plan years, allowing consumers to access up to $500 of rollover dollars in the new plan year as well as any excess funds from the prior plan year.

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