New division offers automated HSA and FSA
solutions to increase and simplify usage of spending accounts for
employee benefit programs
ATLANTA, July 16,
2024 /PRNewswire/ -- InComm Payments, a leading
payments technology company, today announced the launch of InComm
Benefits, a new division revolutionizing the employer market with
automated and intuitive Health Savings Account (HSA) and Flexible
Spending Account (FSA) services. InComm Benefits' automated
solutions potentially drive higher adoption rates and satisfaction
by simplifying expense management and encouraging user
engagement.
"Many employers struggle with low utilization of HSAs and FSAs,
often because their employees believe the accounts are too complex
to manage," said Brian Parlotto,
Executive Vice President at InComm Payments. "Our goal is to
disrupt that status quo by making it easier for account holders to
spend now on essential purchases without losing the benefits of
saving for the future."
InComm Benefits' solutions provide innovative features that
streamline tasks such as receipt tracking and record keeping for
employees, whether they use an account for spending or investing.
The platform's analytics automate Internal Revenue Service (IRS)
rules and account management, which help users maximize tax
savings.
For users seeking an easier spending experience, InComm Benefits
provides a unified debit card that connects to an HSA account along
with a checking account. This connection enables the platform to
automatically detect and route many healthcare expenses to the HSA,
while non-eligible purchases are charged to the checking account.
This feature helps employees better understand expense eligibility
and helps employees more easily manage their health and budget.
"Our unique offerings are designed to maximize value for both
account holders and their employers who provide these in their
benefit packages," said Dan
O'Connor, VP of Sales and Employee Benefits at InComm
Benefits. "Account holders enjoy automated tools that make it
easier to both spend funds on eligible purchases and save funds for
potential growth opportunities. Additionally, an intuitive HSA may
encourage more employees to sign up for high-deductible healthcare
plans, which in turn can lead to reduced costs for employers."
The launch of InComm Benefits marks InComm Payments' latest
expansion into the employer health benefits category, following its
acquisition of Zenda in 2023. For more information about InComm
Benefits, visit www.InCommPayments.com/benefits.
*Banking services are provided by Coastal Community Bank,
member FDIC. Coastal Community Bank is the custodian for the HSAs
that are administered by InComm. The InComm HSA benefits card is
issued by Coastal Community Bank pursuant to a license from Visa
U.S.A. Inc. HSAs are FDIC insured
up to $250,000 per depositor through
Coastal Community Bank, Member FDIC.
Investment products are not insured by Coastal Community
Bank, the FDIC, or any Federal Government Agency and may lose
value. Privacy notice for Coastal Community Bank can be
found here.
About InComm Payments
InComm Payments is an innovative global payments technology
provider. Leveraging dynamic technology and proven expertise,
InComm Payments delivers enhanced end-to-end payment platforms and
emerging financial technology solutions through a single
integration, helping businesses grow across a wide range of
industries including retail, healthcare, tolling & transit,
incentives, mobile payments, digital currencies and financial
services. By enabling omnichannel connections and alternative
payment options to an ever-expanding consumer base in an
increasingly digital ecosystem, InComm Payments creates seamless
and valuable commerce experiences across the globe. With three
decades of experience, over 525,000 points of retail and online
distribution, 412 global patents and a presence in more than 40
countries, InComm Payments leads the payments industry from its
headquarters in Atlanta, Ga. Learn
more at www.InCommPayments.com.
About InComm Benefits
InComm Benefits is
the future of employee benefits with automated and
intuitive spending accounts, including HSA, FSA, Dependent Care,
Lifestyle and more. Simplify the user experience by providing
automatic purchase recognition and receipt tracking. Employees can
more easily take advantage of triple-tax savings using one card.
Employers benefit from higher adoption rates, boosted employee
satisfaction, and savings using cutting-edge solutions. Learn
more at www.incomm.com/benefits.
Media Contacts
Anthony Popiel
Communications Manager
InComm Payments
apopiel@incomm.com
Emily Kent
Dalton Agency (on behalf of InComm Payments)
InCommPayments@daltonagency.com
540-621-5448
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SOURCE InComm Payments