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Yahoo
a day ago
- Business
- Yahoo
WEX Introduces AI-Powered Claims Tool to Simplify FSA Reimbursements
New technology improves speed and efficiency of the claims reimbursement process, giving time back to both consumers and HR teams PORTLAND, Maine, July 21, 2025--(BUSINESS WIRE)--Today, WEX (NYSE: WEX) announced the launch of a new intelligent claims tool that helps people get reimbursed from their flexible spending accounts (FSAs) faster and more easily. For HR teams looking to make the FSA reimbursement process easier for their employees, this new AI-powered tool will take the guesswork out of submitting a claim by making sure documentation is complete, accurate, and easy to verify, right at the time of submission. Boasting more than 97% precision in determining the correct reimbursement amount for valid claims during the claims process, this tool will help cut down on busywork by automating key steps like checking receipts, pre-filling claim forms, and quickly approving eligible claims for reimbursement. This will reduce friction in the overall reimbursement process, helping to approve eligible claims in minutes, not days. "Today's health and benefits teams are doing more with less," said Jennifer Whitmire, senior vice president of product for health and benefits at WEX. "By building smarter tools that automate the most frustrating parts of the process, we're helping our partners offer a faster, more modern experience without adding extra burden to their teams." What this means in practice WEX's new AI-powered tool is making the claims experience faster, easier, and more reliable. By simplifying each step from verifying documents to processing reimbursements, WEX is helping people get their money back with less hassle and giving HR teams a smarter way to manage claims. These new capabilities include: Document verification that alerts consumers in real time if information is missing Smart form completion that pre-fills key fields to reduce manual errors Fast claim assessment that can approve eligible documents for claims reimbursement in minutes, not days This new claims tool tackles the most common reasons for denials, like missing documentation or ineligible expenses and gives users a more predictable, seamless experience from start to finish. Some of these additional benefits include: Faster payouts: Claims that used to take two business days can now process in under two minutes Greater accuracy: More than 97% precision in determining the correct reimbursement amount for valid claims during the claims process Less work for HR teams: Intelligent automation reduces busywork and manual review More confidence for employees: Real-time feedback helps ensure claims are complete and accurate the first time Built with security and scalability in mind This launch is part of WEX's broader investment in building smarter, more modern tools that scale with the needs of customers and partners. It's powered by a secure data infrastructure and guided by strong governance practices. It meets HIPAA standards and follows strict protocols to keep personal data protected. "We've made — and will continue to make — significant investments in data-driven and AI-powered innovation," added Whitmire. "We're building solutions the right way, focused on long-term value, not just speed. Our goal is to give people time back, reduce friction, and make the experience simpler at every step." According to the Bureau of Labor Statistics, 72% of state and local government workers and 47% of private-sector employees had access to FSAs in 2024. With usage growing year over year, WEX's new claims tool arrives at a critical time to support both employers and consumers ahead of open enrollment. WEX's AI-powered claims tool is available now for HR administrators, their brokers and consultants looking to enhance their FSA reimbursement process. To learn more about how WEX's AI-powered innovation in FSA claims reimbursement drives savings, boosts benefit engagement, and helps reduce administrative burden, visit About WEX WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit Forward-Looking Statements This press release contains forward-looking statements including, but not limited to, statements regarding the expected benefits resulting from the Company's launch of its new AI claims benefit tool. Any statements in this press release that are not statements of historical facts are forward-looking statements. When used in this press release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "will," "positions," "confidence," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including the ability of the Company and its customers to realize the expected benefits of its new AI benefits claims tool; as well as other risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 20, 2025, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the Securities and Exchange Commission on May 1, 2025 and subsequent filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise. View source version on Contacts Investor Relations:Steve Elder, Media:Kelly Gibson, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Geek Vibes Nation
09-07-2025
- Business
- Geek Vibes Nation
What Should You Look For In Onboarding HR Software
The choice of onboarding HR software is crucial for an organization's hiring process. An efficient system simplifies processes, improves the new hire experience, and keeps your company compliant. Understanding key features and benefits can go a long way in maximizing the efficacy of onboarding solutions. User-Friendly Interface A simple interface makes onboarding easy for managers and new hires. Onboarding HR software features intuitive navigation, which ensures ease of use and reduces the time needed to train staff. Users can get things done on a platform with clear instructions and an easy-to-use design. An interface that caters to different devices improves accessibility, making it easier for team members joining remotely or on-site to use the platform. Comprehensive Integration Integration capabilities are among the most critical functions in HR software onboarding. Integrating this tool should be seamless with the current systems, ensuring data consistency on all platforms. Such harmonization helps in avoiding repetition and makes the work easy and efficient. Integrating payroll, performance management, and communication tools can create a holistic network that benefits all parties Customization Options Since every organization has peculiar requirements, customizing it is crucial. It should bring flexibility to accommodate unique business needs. Customize workflows, forms, and processes to align with the organization's goals. This customization helps organizations retain their unique identity and leverage the software to the maximum. Automated Workflows Automating repetitive tasks helps save time and minimizes errors. The streamlined nature of onboarding HR software with workflows automating processes allows HR teams to develop a strategic plan rather than spending time on manual tasks. The entire process is streamlined: automatic document generation, document reminders, progress tracking, and more. Such automation ensures a seamless transition for the new hires, delivering a delightful onboarding experience. Compliance Management Compliance with both legal and organizational requirements continues to be a key focus. Onboarding software should include tools that make it easy for employees to follow every policy and regulation. It should also include built-in compliance management tools for tracking required documentation, certifications, and training. Organizations protect themselves from potential legal risks by reducing the risk of non-compliance. Fun Onboarding Process Onboarding is the starting point of a new employee's journey. Software that encourages interaction and engagement fosters a sense of belonging and encouragement. Specialties such as interactive modules, personalized welcome messages, and virtual tours create a friendly atmosphere. When new team members realize their worth, they will be even more productive and happy at work. Analytics and Reporting Statistics and data-driven insights are increasingly used to drive decision-making and process improvement. The leading onboarding HR software with a robust analytics and reporting feature provides key metrics. It identifies areas for improvement by analyzing completion rates, feedback results, and time-to-productivity. This ensures the onboarding process continuously improves based on these insights. Scalability and Flexibility Scalability is critical when organizations scale. HR software for onboarding must scale efficiently without any performance degradation. Solutions that provide seamless transitions can effectively support a growing workforce through transitions. Companies are building a foundation to cater to changing business landscapes and future growth with scalable software. Security Features Safeguarding proprietary information is still a top priority. Security is a must for onboarding software; this includes encryption, access controls, and regular audits. By protecting employee information, organizations also ensure trust and confidence in keeping it safe. By putting in place strong security, a business can reduce the chances of data breaches. Feedback Mechanisms Feedback is critical in understanding how the user experience goes once the onboarding software is in place. Continuous feedback offers clues to strengths and weaknesses. Survey and rating forms and comment sections foster direct communication with new employees and HR teams. Such a collaborative approach also ensures that all onboarding processes are constantly enhanced. Final Thoughts Onboarding itself is a small part of a much larger picture, and selecting an HR software solution to meet your needs means you have to weigh several factors before you make your choice, most importantly, ease of use, integration, customization, and more. Features like automation, compliance management, and security make things more efficient and make the system operate more reliably. Focusing on engagement and scalability prepares organizations for effective employee onboarding. Making better-informed decisions will help improve onboarding, thus benefiting the organization as a whole.
Fast Company
17-06-2025
- Health
- Fast Company
The real reason wellness programs fail? No one uses them
Fast Company recently posed the question: 'Why isn't your workplace wellness program reducing stress?' The answer, as the article rightly pointed out, isn't about bad intentions—it's about bad execution. Most wellness initiatives are still treating symptoms, not causes. But we need to go even deeper. Workplace wellness isn't failing because it's frivolous. It's failing because employees aren't engaging with it. Stressed and burned out Corporate America spends an estimated $65 billion a year on wellness perks, from mindfulness apps to meditation pods yet 77% of employees still report feeling stressed, and 82% say they're at risk of burnout. In the largest academic study of U.S. programs, fewer than half of eligible employees ever engaged with the resources on offer (RAND Corporation). Digital-only benefits fare even worse: 'app sprawl' and discovery fatigue mean that most perks are forgotten before they're used. A meditation app buried in a browser tab can't move the needle on mental health, absenteeism, or retention. It's easy to blame employees for being disengaged, or to point fingers at toxic culture. But the truth is more subtle—and more solvable. Complexity kills engagement When HR teams assemble a buffet of stand-alone apps—financial coaching here, sleep tools there, therapy platforms somewhere else—every login is another cognitive task. Overwhelmed workers don't skip your yoga discount because they dislike yoga. They skip it because they don't remember where the link lives. At YuLife, we partnered with the University of Essex to study this problem. We found that bundling insurance, rewards, virtual care, and micro-challenges into one gamified experience radically changed engagement patterns: Users take healthy actions on 20 of 30 days, double the norm 54% return monthly, 50% engage daily Daily steps rose 13%, equivalent to adding 4.5 years of life expectancy Self-reported stress dropped 53%, productivity rose 57% Crucially, activity inside the app predicted use of other benefits. Those included 4× more Employee Assistance Program utilization, 2.4× more virtual GP visits, an 11.5% drop in absenteeism, and a 2.75% drop in turnover Engagement is the missing variable Wellness programs aren't underperforming because employees don't care. They're underperforming because the programs weren't designed with real behavioral engagement in mind. Three blockers we can eliminate today: Perk fragmentation Consolidate your well-being tools. If it takes more than two clicks or logins, it's too much. Build a single front door, ideally integrated where work already happens (Slack, Teams, a unified app). Slow-burn rewards Points that take months to redeem lose meaning. When users can swap earned 'coins' for gift cards the same week, engagement jumps 30% and rises again with leaderboards or friendly duels. One-size-fits-all content A new parent, a cyclist, and a burnt-out manager don't need the same nudges. Personalised AI-driven prompts that respond to user behaviour drive a 3x increase in healthy habits. Well-being is infrastructure, not a perk We often hear that wellness is 'hard to measure.' But that's usually a reflection of low engagement, not flawed strategy. At 20% adoption, noise drowns out signals. At 50%+, the ROI becomes clear, including a 5% drop in claims costs for employers integrating preventive data into group-risk underwriting. If fewer than half your people open the app, the program doesn't work. No matter how many perks you fund.
