SAN FRANCISCO, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Amino, a digital health company, today announced that it will be expanding its offering by adding a modern health savings account (HSA) on top of its current “find care” search and price transparency features. This solution will deliver a much needed upgrade to HSAs by pairing its tax-free savings and spending with transparency around healthcare cost and quality.
“As healthcare costs and deductibles continue to rise, consumers and employers are feeling the burden of managing more of their healthcare spending and saving. At Amino, we’ve spent the last few years helping people spend more wisely by connecting them to quality, in-network physicians and facilities and allowing them to estimate costs ahead of time. With today’s announcement, we’re pulling in one of the best, yet highly underutilized, financial tools to help people save more wisely and manage their healthcare wallets. The new offering will guide people as they make healthcare decisions, from the tap of their phone to the swipe of their debit card at the pharmacy,” said David Vivero, CEO of Amino.
The announcement follows Amino’s continued work to create a simple consumer interface for healthcare, one that combines big data with a great user experience. In the past year, the company has expanded its offerings to further engage employees, the largest category of healthcare consumers in the U.S. Amino provides care search, concierge booking, and real-time deductible and out-of-pocket maximum tracking via the web, through Amino’s apps, and soon as an extension of one’s own wallet with the HSA offering.
More than 20 million Americans currently use HSAs, and millions more are eligible because of their high deductible plans. These plans are becoming more common through employer-sponsored insurance and the marketplace; nearly 40% of Americans were on high deductible plans in 2016, up from 26% in 2011, according to the CDC.
Amino’s new comprehensive offering aims to vastly improve people’s understanding of and experience with HSAs. The company’s product vision is to integrate the HSA alongside transparency into daily healthcare experiences, where one data-powered decision could save thousands of dollars.
Among the features Amino will offer eligible employees:
- Care search and booking, made simple: search for doctors, urgent care, imaging centers, and hospitals, with added information around in-network status, cost estimates, quality measures, and more. Amino’s personal assistant then books appointments and handles follow up.
- Smart savings with a modern HSA: Amino layers in personalized goals and jargon-free education about how much to save and when. Amino makes it easy to track transactions and upload receipts through text as well as Amino’s mobile apps.
- Amino on your phone and in your wallet: Amino will offer employees all its features in one digital experience accessible on the web and via mobile apps, plus an HSA debit card for out-of-pocket spending.
Alongside a great user experience for employees, Amino will offer employers quick and easy onboarding, administration, and compliance, on top of savings from smarter employee healthcare decisions.
Amino’s solution will be first available to employers in spring of 2018, with flexible options for employees on low and high deductible plans. Amino plans to roll out its HSA offering to individuals insured through the marketplace later in 2018. For further information about Amino and its offerings, visit www.amino.com.
About Amino:
Amino is a digital health company that makes saving money on healthcare easy. Combining data, design, and consumer-first thinking, Amino offers information and services that guide people toward quality, affordable care. Its flagship product pairs transparency with a modern HSA to deliver smarter savings at every turn, so companies and employees get the most from their health insurance plans. The company is based in San Francisco and is backed by Accel, CRV, Highland Capital Management, Rock Health, and notable individual investors.
Contact:
Press@amino.com