Managed Health and PayChex Partner to Bring Companies a Unique Healthcare Solution

Rhea-AI Summary

PayChex, Inc. (NASDAQ: PAYX) has partnered with Managed Health to introduce an innovative healthcare solution aimed at enhancing employee retention and wellness. This unique program allows employees to access medical services with zero out-of-pocket costs, leveraging a structured Section 125 cafeteria plan. Managed Health's CEO, Mouhamet Seye, emphasized the importance of this solution in addressing employee retention challenges faced by executives. The scalable program benefits companies of all sizes and aims to lower healthcare premiums while improving employee health.

Positive

• Introduction of a zero-out-of-pocket healthcare solution for employees.
• Partnership enhances PayChex's service offerings, addressing the need for employee wellness tools.
• Potential for significant savings for companies implementing the structured Section 125 cafeteria plan.
• Scalable solution that benefits both startups and large corporations.

Negative

• None.

SALT LAKE CITY--(BUSINESS WIRE)-- Managed Health and PayChex, Inc. (NASDAQ: PAYX), a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance, announced a partnership to offer companies a new, unique, innovative healthcare solution.

Managed Health's CEO, Mouhamet Seye, at a conference with other industry leaders. (Photo: Business Wire)

Managed Health offers independent benefit programs designed to provide employees with additional access to doctors, Urgent Care, prescriptions, and more at a net-zero out-of-pocket cost. In addition to improved health, productivity, and employee retention, Managed Health programs also provide significant savings for participating companies through a correctly structured Section 125 cafeteria plan.

In announcing this new partnership, Managed Health CEO Mouhamet Seye said, "We look forward to joining with PayChex to offer companies another tool which will help attract and retain quality job candidates and employees. Nearly 80% of executives list employee retention as a business challenge. We address that effectively with our unique and innovative solution to complement any corporate health insurance plan, while offering employees additional benefits at a zero-net cost.

"Teaming up with Managed Health gives PayChex an additional benefit to offer our clients. As a leading provider of Human Resources, we see a need for a tool for employees to manage their health proactively. Managed Health offers employees an innovative and interactive wellbeing management program," which will improve health and lower healthcare premiums.

This scalable solution will benefit every employer, whether a startup or a large corporation and employee enrolled. That, paired with the first-class service PayChex and Managed Health provide, makes this the ultimate advantageous solution that every business needs right now.

About Managed Health: Managed Health is focused on a revolutionary new healthcare approach designed to complement any health insurance plan and proactively focuses on improving employees' physical and financial well-being. For more information on our plans, visit ManagedHealth.com.

About PayChex: PayChex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, PayChex empowers business owners to focus on the growth and management of their business. PayChex serves more than 730,000 payroll clients as of May 31, 2022, in the U.S. and Europe and pays one out of every 12 American private sector employees. Learn more about PayChex by visiting www.paychex.com and stay connected on Twitter and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220908006080/en/

Muriel Sherwood

Press@managedhealth.com

Source: Managed Health

FAQ

What new healthcare solution has PayChex launched?

PayChex has partnered with Managed Health to offer a healthcare solution that provides employees with access to services at zero out-of-pocket costs.

How does the new healthcare solution benefit companies?

The solution can improve employee retention, health outcomes, and potentially reduce healthcare premiums through a structured Section 125 cafeteria plan.

What is the significance of this partnership for PayChex clients?

This partnership allows PayChex to offer a unique tool for proactive health management, enhancing their human capital management services.

What percentage of executives see employee retention as a challenge?

Nearly 80% of executives identify employee retention as a business challenge.

Is the new healthcare solution scalable?

Yes, the solution is designed to benefit companies of all sizes, from startups to large corporations.