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WEX Health Expands Mobile Capabilities and Introduces WEX Health Cloud COBRA & Direct Billing Mobile App

FARGO, N.D.--(BUSINESS WIRE)--Jun. 25, 2018-- WEX Health, a WEX Company and an award-winning healthcare financial technology platform provider, has introduced significant new features and functionality to its WEX Health Cloud platform through its recent June 2018 Release. The updates reflect WEX Health’s continued focus to improve usability and deliver greater value to consumers, employers, and its network of Partners.

Healthcare is quickly becoming a mobile-first business as consumers seek solutions that fit their busy lifestyles: Sixty-five percent of consumers prefer to spend time on native mobile apps over a desktop, according to Comscore. WEX Health—one of the first to hit the market with a mobile app—continues to deliver an award-winning private-labeled mobile solution that drives consumer engagement and efficiency.

The June 2018 release introduces the WEX Health Cloud COBRA & Direct Billing Mobile App, which provides consumers ease of use and quick accessibility to several convenient WEX Health COBRA & Direct Billing features, including: online registration and election, credit/debit card payments, recurring ACH, and one-time checking/savings payments. The app, which uses PIN security, enables consumers to view communications as well as payment history.

“We’re meeting consumers where they are, and that is on their mobile devices,” said Matt Dallahan, senior vice president, strategy and product development at WEX Health. “The innovative updates we’ve made to our mobile apps enable consumers to maximize their health benefit accounts in an efficient way—anytime and anywhere.”

Updates to the WEX Health Cloud Mobile App include a user interface refresh and the ability for administrators to modify colors. With the Eligible Expense Scanner, consumers now can scan a product bar code to determine eligibility as a qualified medical expense. On the health savings account (HSA) front, investment details such as fund activity, balance, rate of return, and related graphs are now readily available.

For administrators, updates to the WEX Health Cloud Administrator Dashboard help them see the state of their CDH account-based business, allowing them to better manage growth, efficiency, and engagement across their organization.

The June 2018 release also includes updates to the WEX Health Cloud Consumer Portal. Consumers are met with a new, dynamic, and interactive home page that features an enhanced message center. Identity verification management (IDV) provides an efficient and secure way for consumers to upload documents and for administrators to view and store highly sensitive information. Additionally, the Healthcare Savings Goal simulates a personalized conversation about the consumer’s plan for healthcare savings.

HSA and notional account enhancements include HSA scheduled contribution funds availability, which provides an alternate contribution funding process for employers where contributions are available to spend on the contribution date creating a solution for January 1st funding dates. The new Schedule HSA Consumer Move & HSA Consumer Move Notification enhances the usability of the HSA consumer move functionality for both administrators and consumers.

WEX Health Partners—who connect WEX Health to more than 300,000 employers, ultimately helping the company serve more than 25 million consumers across the United States and Canada—are excited about the June 2018 Release.

“Discovery Benefits is seeing more and more of our millions of participants rely on consumer-driven healthcare (CDH) accounts as part of their health and wealth plan,” said Kelly Hockett, senior vice president of software solutions and systems of Discovery Benefits, a WEX Health partner. “The expanded feature set in the app makes it even easier for these consumers to maximize their benefit dollars anywhere they go.”

About WEX Inc.

Powered by the belief that complex payment systems can be made simple, WEX Inc. (NYSE: WEX) is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 3,300 associates around the world. WEX fleet cards offer 11.5 million vehicles exceptional payment security and control; purchase volume in its travel and corporate solutions grew to $30.3 billion in 2017; and the WEX Health financial technology platform helps 300,000 employers and more than 25 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.

Source: WEX Inc.

WEX Health
Tiffany Wirth, 701-461-6473
twirth@wexhealthinc.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding WEX Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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