Conduent Redesigns BenefitWallet® App to Support COVID-19 Related Government Changes to Health Accounts

Rhea-AI Summary

Conduent Incorporated (Nasdaq: CNDT) has launched a redesigned BenefitWallet^® mobile app, enhancing user experience for its one million members. The app allows easy access to Health Savings Account (HSA), Flexible Spending Account (FSA), and Health Reimbursement Arrangement (HRA) balances, enabling quick reimbursement for eligible healthcare expenses. This update aligns with COVID-19 related changes in IRS regulations. Conduent also introduced a COVID-19 microsite to inform members about legislative changes and provide resources for managing their health accounts effectively.

Positive

• Launch of the redesigned BenefitWallet mobile app improves user experience for one million members.
• The app facilitates quick access and reimbursement for eligible healthcare expenses amid COVID-19 changes.
• BenefitWallet manages nearly $2.7 billion in assets across active HSA accounts, indicating strong market presence.

Negative

• None.

FLORHAM PARK, N.J., May 27, 2020 (GLOBE NEWSWIRE) -- Conduent Incorporated (Nasdaq: CNDT) today announced the launch of its newly designed BenefitWallet^® mobile app which provides a more seamless and streamlined experience for BenefitWallet’s approximately one million members. The enhanced app comes at a time when rules around Health Savings Account (HSA), Flexible Spending Account (FSA) and Health Reimbursement Arrangement (HRA) accounts are impacted by COVID-19 related IRS and legislative changes.

Available for Apple and Android devices, the BenefitWallet app gives members easy access to HSA, FSA and HRA balances, the ability to pay providers or reimburse themselves for eligible health care expenses, and more. For example, FSA members can use their mobile phone to take a picture of a receipt for an eligible over-the-counter (OTC) medical product and quickly submit it for reimbursement. In fact, OTC medical products purchased without prescriptions as early as January 1, 2020, can now be submitted for reimbursement as a result of changes through the CARES Act.

“With a new look and a more intuitive interface, the redesigned BenefitWallet app allows members to easily take advantage of government changes for HSA, FSA and HRA accounts,” said Todd Berkley, Vice President and Portfolio Leader, BenefitWallet, at Conduent. “It’s now even easier for members to access their health dollars when they need it during employment and in retirement.”

COVID-19 microsite
Conduent has also launched a COVID-19 microsite to help members stay informed about changes impacting their BenefitWallet health accounts. Available at www.mybenefitwalletsite.com/covid19, the one-stop microsite provides quick and easy access to information such as legislative changes related to the COVID-19 health crisis, how-to-guides for common transactions on the BenefitWallet member portal and mobile app, and frequently asked questions (FAQs).

“We encourage BenefitWallet members to take advantage of our resources designed to empower them with information and insights to make the decision that suits their needs,” added Berkley. “BenefitWallet is available to help members pay for any eligible health care expenses incurred.”

BenefitWallet offers a personalized and simplified approach to help members manage their health care costs and accumulate wealth with tax-advantaged health accounts. BenefitWallet integrates the member experience across the continuum of health care engagement, funding, saving and payment. BenefitWallet is one of the nation’s top health account administrators, managing nearly $2.7 billion in assets in approximately one million active HSA accounts for employer customers of all sizes.

For more BenefitWallet member information, check out the BenefitWallet app or visit the member portal at mybenefitwallet.com. For employers interested in offering BenefitWallet, visit www.conduent.com.

About Conduent  
Conduent delivers mission-critical ​services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward. 

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including two-thirds of all insured patients in the U.S., 11 million employees who use its HR Services, and nearly nine million people who travel through toll systems daily. Conduent’s solutions deliver exceptional outcomes for its clients including $17 billion in savings from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, and up to 40% improvement in processing costs, while driving higher end-user satisfaction. Learn more at www.conduent.com. 

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Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.

FAQ

What are the key features of the new BenefitWallet app from Conduent (CNDT)?

The redesigned BenefitWallet app allows members to access HSA, FSA, and HRA balances, manage reimbursements, and submit receipts for eligible expenses using mobile devices.

How does the BenefitWallet app accommodate COVID-19 changes?

The app enables users to take advantage of IRS changes regarding HSA, FSA, and HRA accounts as a result of COVID-19, including reimbursement for over-the-counter medical products.

What resources are available on the COVID-19 microsite launched by Conduent (CNDT)?

The COVID-19 microsite provides information on legislative changes, how-to guides for transactions, and answers to frequently asked questions about managing BenefitWallet health accounts.

How many members use Conduent's BenefitWallet service?

The BenefitWallet service has approximately one million members.

What is the total asset management by BenefitWallet (CNDT)?

BenefitWallet manages nearly $2.7 billion in assets across active HSA accounts.