First Data Corp. has announced the introduction of its Multipurpose Healthcare Card offering, designed to support flexible spending account (FSA) and health reimbursement account (HRA) recordkeeping and claims administration. The program provides an automated process for third-party administrators (TPAs), employers and payers while assisting employees in managing multiple healthcare funds and expenses. First Data's program is a comprehensive suite of services including card personalization and fulfillment, transaction management services and customer service.
"We're excited to draw on First Data's decades of experience in processing billions of transactions and moving trillions of dollars worldwide to bring the Multipurpose Healthcare Card to market," said Beverly Kennedy, senior vice president, First Data. "Today's FSA and HRA programs have been hampered by a paper intensive, manual process that discouraged participation and added costs and inefficiencies. We see this as an opportunity to convert these programs to a more automated electronic process that will remove costs, improve efficiencies and allow employers and payers to provide better service to employee members."
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