Flex Enhances Health Savings Accounts for Growing Marketplace

ROSEMONT, Ill., July 31, 2013 (GLOBE NEWSWIRE) -- Flexible Benefit Service Corporation (Flex), a leader in the consumer-driven healthcare marketplace, today announced numerous enhancements to its Health Savings Account (HSA) capabilities. Available since 2004, FlexHSA^® offers products for individual consumers and families enrolled in qualified health insurance plans, as well as employers offering qualified plans to employees.

With more than 120,000 participants enrolled in the Flex portfolio of account-based plans, FlexHSA now offers banking and custodian services with a new banking institution, as well as investment services with a new financial services institution. FlexHSA also now showcases enhanced online claims payment and reimbursement services, a free FlexMoney^® Visa^® debit card, new investment options, streamlined account management resources and an integrated experience for HSA account holders who also participate in a Flexible Spending Account (FSA).

The FlexHSA web site, www.flexhsa.com, also includes new features and resources for employer-clients and account holders. The site now offers calculators, educational videos, e-communications, featured partners and administrative tools, among others.

"The HSA enhancements are another example of our commitment to strengthen our products and services in support of the expanding marketplace," says John DiVito, President of Flex. "FlexHSA is an ideal compliment for those enrolling in qualified health plans, especially with the emergence of the insurance exchanges."

A primary component to the Affordable Care Act (ACA), health insurance exchanges, also known as "marketplaces," will serve as a new model for employers, employees and consumers to shop, compare and purchase health insurance. FlexHSA is already integrated with the InsureXSolutions^® private exchange, which offers individual health insurance plans through an online marketplace to businesses, employees and consumers.

Since 1988, Flex has administered various employee benefits programs and services that offer cost-effective ways for rising healthcare costs. Currently, Flex administers and manages a complete portfolio of consumer-driven, tax-advantaged plans, including FSAs, Health Reimbursement Arrangements (HRAs), HSAs, Transit/Parking Reimbursement Accounts (TRAs), COBRA and more.

To learn more about Flexible Benefit Service Corporation, visit www.flexiblebenefit.com or call 888-353-9178.

About Flexible Benefit Service Corporation

Flexible Benefit Service Corporation (Flex) has been a leading provider of consumer driven employee benefits for 25 years. As both a general agency and benefits administrator, Flex offers integrated capabilities and personalized service that is unique to the health insurance industry. The extensive Flex product portfolio includes flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs) and more. Flex also blends its comprehensive expertise to offer an end-to-end private insurance exchange that showcases innovative technology, scalable features and integrated resources. Learn more at flexiblebenefit.com.