FARGO, N.D.--(BUSINESS WIRE)--Feb. 26, 2018--
Health, a WEX Company and an award-winning healthcare financial
technology platform provider, further solidified its leadership position
in 2017 in terms of growth and services:
Health Cloud processed more than 350 million transactions, all
with an uptime of 99.99 percent over the past five years.
Product releases delivered more than 350 key enhancements, extending
WEX Health’s unique leadership position.
Our Partner ecosystem connects us to more than 300,000 employers,
ultimately helping us serve more than 25 million consumers across the
United States and Canada.
WEX Health continues building key relationships with industry-leading
third-party administrators, health plans, financial institutions,
exchange partners, payroll providers and multiple Taft-Hartley union
and labor funds. In 2017, growth was driven by the addition and/or
renewal of numerous notable partners including American Benefit
Administrators, ASI Flex, Benefitfocus, Compusys/Erisa Group, Kaiser
Permanente, PIOPAC, and Tri-Star Systems. Additionally, we added
several notable COBRA and advanced billing partners.
Growth continues across all categories of employers choosing WEX
Health Cloud as their technology platform for administering
healthcare benefit accounts. Among Fortune 1000 companies, forty-four
percent (44%) are on the WEX Health Cloud platform.
The WEX Health Cloud mobile app continues strong year-over-year growth
and was downloaded more than a million times in 2017. The mobile app
continues as a leader in innovation, value, and technology in the
WEX Health remains a leader in the HSA market with nine of the top 20
HSA providers powered by WEX Health, and more HSAs utilizing WEX
Health technology than any other. Additionally, HSA Bank, a WEX Health
Partner, grew beyond 2.4 million accountholders in 2017.
WEX Health executives shared thought leadership, insight, and
expertise by speaking at industry conferences and by being featured in
industry trade and national media, including: Barron’s, Employee
Benefit News, HR Technologist, BenefitsPro, SHRM and Health Leaders
Media. WEX Health's announcements and press releases were featured in
national and regional outlets, such as the Miami Herald, Pittsburgh
Post Gazette, International Business Times, and the Star Tribune.
We continue to receive industry awards and accolades, including being
named a Paybefore 2017 Pay Awards Winner in the Health Care Payments
Innovation category and a “Best of 2017” award winner in
MobileVillage’s Mobile Star awards. Additionally, Jeff
Young, president of WEX Health, was named a Technology Innovator
Award winner by Employee Benefit News and Employee Benefit Adviser,
and Jeff Bakke, chief strategy officer of WEX Health, was named a 2017
Eureka! Innovation award winner by the Minneapolis/St. Paul Business
“Our growth and achievements reflect the ongoing need for innovative
technology and integrated solutions that help organizations streamline
administrative and regulatory changes,” said Young. “At WEX Health, we
remain committed to investing in technology and investing in our
partners to help them grow and succeed. Our tremendous success is a
result of our partners’ hard work, dedication, and determination to
simplify the business of healthcare.”
WEX Health Partners will gather April 30-May 2 at The Westin Kierland
Resort & Spa for Partner
Conference 2018, the industry’s go-to event.
About WEX Health
We simplify the business of healthcare
through WEX Health Cloud, a cloud-based healthcare financial management
platform that drives efficiency for benefit administration technology,
consumer engagement, and advanced billing and payments. Our partner
organizations enable us to deliver our industry-leading and
award-winning solution to 300,000 employers and more than 25 million
consumers. Together we take the complexity out of defined contribution,
HSAs, HRAs, FSAs, VEBAs, PRAs, premium billing, public and private
health insurance exchanges, COBRA, wellness plans, and transit plans.
Learn more at www.wexhealthinc.com,
and follow WEX Health at @WEXHealthInc.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of
corporate payment solutions. From its roots in fleet card payments
beginning in 1983, WEX has expanded the scope of its business into a
multi-channel provider of corporate payment solutions representing 11
million vehicles and offering exceptional payment security and control
across a wide spectrum of business sectors. WEX serves a global set of
customers and partners through its operations around the world, with
offices in the United States, Australia, New Zealand, Brazil, the United
Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its
subsidiaries employ more than 3,000 associates. The Company has been
publicly traded since 2005, and is listed on the New York Stock Exchange
under the ticker symbol “WEX.” For more information, visit www.wexinc.com
and follow WEX on Twitter at @WEXIncNews.
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Source: WEX Inc.
Tiffany Wirth, 701-461-6473