Empower Expands Benefits Services With Consumer Directed Health Care Offering

The CDH product suite is being offered through a partnership with Alegeus Technologies LLC.

Empower introduced a consumer-directed health care product suite to “help individuals manage their healthcare finances in conjunction with their full financial picture.”

The offering, Consumer-Directed Health, will provide employers and individuals an array of products and services that allow for optimization and integration of health and wealth benefits. The integrated set of CDH benefits under the Empower brand will be incorporated into Empower’s digital platform.

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Empower will offer health savings accounts, flexible spending accounts, health reimbursement arrangements, voluntary employees’ beneficiary association plans, wellness incentives, lifestyle benefits and more. The product set is being offered through a partnership with Alegeus Technologies LLC, a health care technology solutions provider.

The CDH offering is designed to support employers of all sizes and types, from those with fewer than 50 employees to those with more than 500,000 employees across the corporate, government, not-for-profit and labor markets. 

According to Empower, features of its CDH offering include:

  • Integrated workplace benefits experience for participants;
  • Unified card authorization and single card for all CDH accounts;
  • Integrated investment experience for members, including curated fund lineups and a brokerage experience;
  • Cohesive “Save, Invest, and Spend” experience;
  • Empower stable value; and
  • Custom investment lineup options.

“As healthcare costs increasingly shift to consumers, employers recognize the connection between health-related benefits accounts and retirement savings solutions and are looking to work with a single provider to deliver this benefit experience to their employees,” said Dave Gray, Empower’s executive vice president for enterprise solutions. “Alegeus brings state-of-the-art technology, advanced thinking, and insights that will help Empower customers develop a more robust understanding of their holistic financial and benefits picture.”

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