As part of the deal, Evolution Benefits will be BenefitPoint’s preferred vendor for marketing card-powered flexible spending, health reimbursement and transportation management accounts administration to BenefitPoint brokers and consultants. Evolution’s Benny card provides employees access to their benefits funds in any one or all of these accounts on a single card, a news release said.
As a result of this agreement, BenefitPoint’s brokers and consultants for the first time will have online access to Evolution’s products and services through its Aptus software, using the Instant Quote capability to create consumer-directed product proposals that include a debit card.
Evolution is teaming up with several of the top third party administrators it already works with to provide BenefitPoint subscribers with all of the administrative elements included in complete product offerings.
“The employee benefits industry has been dependent on paper processes for too long, resulting in unnecessary hassles and expenses, and trailing all other financial services sectors in technology adoption,” John Randazzo, BenefitPoint’s chief executive officer, said in the news release. “Our subscribers can now offer employers the fresh ideas they have been looking for in attempts to find savings they can transfer to their health care consumers.”