DirectPath and Flores & Associates Enter Strategic Alliance
DirectPath, the industry leader in employee engagement, health care transparency and compliance, and Flores & Associates, a leading national administrator of tax-advantaged consumer directed health care plans, today announced a strategic alliance to foster increased adoption and optimization of CDHPs and tax-advantaged accounts offered by large employers. Drawing on their respective proven track records for migrating employee populations into CDHPs, health savings accounts (HSAs) and flexible spending accounts (FSAs), DirectPath and Flores together offer large employers, and the brokers who serve them, the experience and services required to optimize employers’ health care benefits investments.
In the past two decades, employers’ investments in health care benefits has grown substantially. A recent study by Willis Towers Watson revealed that employer health care costs more than doubled between 2001 and 2015. To control health care-related costs, employers are increasingly seeking guidance when it comes to steering employees toward account-based plans. By boosting enrollment in employer-sponsored plans, organizations are able to offer employees the care they need while experiencing improved return on their health care investments.
DirectPath and Flores have each proven that their concierge-style approaches to benefits are extremely effective at helping employer clients optimize their health care investments. DirectPath’s work on the front end, educating and engaging employees on their benefits options, has helped its clients with double-digit benefit cost savings and a 20 percent increase in HR and benefits staff productivity. Flores’ work on the back end, customizing account offerings for each employer, has helped its clients drive FICA savings and increase overall satisfaction.
“Having worked with both DirectPath and Flores, I can honestly say that there are no better partners in the health care benefits business,” said Kay Curling, chief human resources officer, Salient CRGT. “These organizations truly understand the challenges HR teams face managing benefits enrollment and administration, and offer best-of-breed services that consistently deliver the time and cost efficiencies businesses seek. They have become an extension of our employee experience brand.”
“We’re thrilled to partner with DirectPath,” said Mario Flores, president, Flores & Associates. “By integrating our services, we can offer our clients the full spectrum of consumer-based assets needed to optimize CDHP, HSA and FSA migration. This means improved enrollment process efficiency and greater health care benefits savings.”
“We’re happy to have found a partner that places the same value on personalized service as we do,” said Bart Yancey, CEO, DirectPath. “We know that employee benefits engagement is essential for steering employees toward plans that meet their needs while controlling costs, and believe that Flores – which operates using a similar white-glove model on the back end – will be the perfect complement to our services. We’re very eager to roll out Flores’ tremendous offerings to our clients and prospects.”