Businessolver’s MyChoice® Accounts Upgrades Offer New Avenues for Employees to Take Control of Their Dollars

Members now have more options to use their funds with less hassle 

DENVER, COLORADO (June 12, 2024)—Businessolver®, a leader in benefits administration technology, is delighted to announce the launch of Claim Choice, an innovative feature within their proprietary saving and spending account engine, MyChoice Accounts. Designed for employees, this exciting addition allows participants maximum flexibility when determining how to use their dollars, ultimately helping them make the most out of their tax-advantaged accounts. 

Claim Choice is a new, free feature that empowers MyChoice Accounts participants to review recent claims submitted by their health, dental, vision carriers, or any other provider of services, such as wellness, gym, or daycare providers.  We streamline the expense, so participants can be notified and decide how they want to utilize the approved amounts, either now or in the future. This feature can be used alongside our stacked debit card to facilitate out-of-pocket payments for HSAs, FSAs, HRAs, or Lifestyle Accounts. 

“Creating features that support employee’s financial choice, is exactly why I started in the spending account business 25+ years ago,” said Kent Rausch, Head of Product and Innovation at Businessolver. “Our goal in creating this functionality was to support the employee, who works hard for their money and should be able to decide how to put those funds to work, without having to understand the ins and outs of compliance. We make it compliant for them, we make it convenient, and we open up possibilities around their dollars that they didn’t even know were possible.” 

By integrating with leading carriers and service providers, we proactively deliver claim information to members, so that they can maximize their decisioning options for what works best for their financial wellness. Our Claim Choice automatically supports auto-substantiation of card swipes for healthcare FSAs, stockpiling claims for tax support from an HSA, to pay a provider directly, or to reimburse themselves quickly. Claim Choice leverages these same integrations, allowing members to review and pay for claims from their account not already paid with a debit card, providing an easy way to manage their money.  

“Think about the employee who still has dollars sitting in their FSA account at the end of the year. They are scrambling to find receipts or buying unnecessary items to spend down their balance. With Claim Choice, they can instead see all the claims they incurred throughout the year and with a click of a button, apply their funds to the claims that are already approved expenses and get those dollars back in their wallet. That’s a huge win!” said Rausch. 

MyChoice Accounts is the only proprietary consumer accounts engine in the industry that is fully embedded within a Benefits Administration system. Because of this synergy and company commitment to continual product growth, MyChoice Accounts responds to the needs of clients and the market consistently.  

About MyChoice Accounts 

MyChoice Accounts offers the only consumer accounts solution that is completely integrated with a benefits administration system, putting all benefits in one platform and one mobile app. Clients have simplified access to one vendor for benefits administration and consumer-directed health care account administration, resulting in streamlined processes, simplified and more secure data exchange, and automated workflows. Members may elect and access their health plan, voluntary benefits, and consumer accounts with one login.  

About Businessolver  

Since 1998, Businessolver has delivered market-changing benefits technology the empowers empathetic service supported by an intrinsic responsiveness to client needs. The company creates client programs that maximize benefits program investment, minimize risk exposure, and engage employees with easy-to-use solutions and communication tools to assist them in making wise and cost-efficient benefits selections. Founded by HR professionals, Businessolver’s unwavering service-oriented culture and secure SaaS platform provide measurable success in its mission to provide complete client delight. 

Media Contact 

Nicole Selinger (for Businessolver) 
314-805-2165 
[email protected]