A technology driven solution using an analytical backbone designed to scale with the ambitions of volume
The Payssurance model is based on separating the source of funding of Capital and the Cost of that Capital. The Capital is funded by harnessing the earning power of the Employee and the Employer aids with the Cost of Capital. This model is aimed at alleviating the employee burden for out-of-pocket healthcare expenses. We consider this a first step in applying the model for additional long-term and critical spending needs of employees and their families.
Payssurance utilizes employee earning history and potential to reduce employers’ burden to provide capital and reduce the cost of credit for employers. Payssurance is not providing traditional credit to employees. We are not a lender and do not require any personal credit and risk verification prior to providing the Payssurance Health Advance Card.
Analytics driven insights
Payssurance dynamically measures the earning power of employees and benchmarks them against employee workforces in other industries and regions. The earning power is also assessed against the healthcare cost trends of employees to determine the level of health advance needed by employees. The wage analysis provides the insights needed for employers and employees to establish the Payssurance health advance.
The Payssurance population analysis is a predictive and learning platform to accelerate the adoption of employees/members into consumer driven health plans (CDHP). Payssurance is developing a patent pending framework utilizing public data sets (census, bureau of labor, CMS, healthcare.gov) and unique partnerships (benefits enrollment platforms, large employers, voluntary carriers, and card networks).
- Profiles the characteristics (financial, condition, demographic, social) of employees and dependents that form the basis of their choice of traditional health benefits vs. CDHP.
- Employers and plans are able to assess and estimate the financial impact of increased adoption in HDHP plans prospectively and on an on-going basis and account for favorable vs. adverse selection.
- Deeper insight into level of coverage available from on-demand funds for employees based on their healthcare usage.
Payssurance platform brings together the complex disparate ecosystems of health care service providers, payments, and settlements with HSA regulatory instruments to empower employees to manage their health related spend in the most optimal way. The platform allows employees to track their spend at the lowest cost possible with tax saving benefits. Behind these benefits lie the extensive use of technology to power mobile and web apps which are easy to use. It allows users to see the past spend and upcoming contributions connected to payroll.
At the other end, the Payssurance core engine is based on the concept of micro-services. This architecture supports connectivity to various ecosystems like employee HR systems, payments gateway to automatically import or authorize transactions, initiate settlements to providers within our network, extreme automation, and transactions tracking via short message patterns. It also allows us to dynamically respond to user load patterns.
Pay multiple ways
- No leakage of funds from source to recipient
The funds, up to the limit of the proposed health advance, are always available through the Payssurance card.
Using Payssurance doesn’t require complex budgeting and multiple options for payment. The card is your single source of financial empowerment.
- Pay multiple ways
The card can be used to pay co-pays at the doctor’s office, buy medications from the pharmacy, or pay bills after care.