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Proficient Benefit Solutions and Elevate Join Forces

In a dynamic move set to reshape the employee benefits landscape, Proficient Benefit Solutions has announced an innovative partnership with Elevate, a leading consumer-directed benefits administration platform. This collaboration aims to integrate AI-powered technology into Proficient’s operations, enhancing the experience for both employers and employees alike.

As a Texas-based third-party administrator (TPA), Proficient Benefit Solutions services a multitude of employers across the state. The need for modernization and efficiency in handling health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs) led them to Elevate’s advanced platform. The goal is simple yet powerful: streamline processes to provide a faster, automated system for benefit accounts.

Why This Partnership Matters

Javier Elizalde, president of Proficient, emphasized the necessity to leverage AI technology to fill gaps identified with previous partners. In his words, “We knew it was time to take advantage of the opportunities created by AI, and that was a gap with our previous technology partner. We needed a more responsive experience for our clients and our internal operations.” As Proficient experiences rapid growth, aligning with a technologically robust platform like Elevate will support their expanding needs and operational demands.

With clients in mind, the partnership sets forth to transform how benefit management is approached. Proficient will benefit from integrated automation that not only enhances operational processes but also enriches the user experience for employers and employees navigating the complexities of their benefits. This modernization is a critical step to ensure that both entities can stay ahead in the evolving landscape of consumer-directed benefits.

The Advantages of Automation

Proficient’s transition to Elevate’s platform provides key advantages that recognize the limitations of outdated systems that still rely on manual workflows. The integration promises:

• - Instant Claims Approval: Up to 78% of claims will be approved instantly through AI-powered automation, substantially reducing the waiting period for employees.
• - Reduction in Returned Claims: An impressive 90% reduction in returned claims thanks to advanced AI-driven coaching, which helps ensure submissions are correct from the get-go.
• - Speedy Claims Processing: Experience an average processing time of just 35 seconds from claim submission to funds being deposited into accounts, showcasing efficiency previously unseen in older systems.
• - Improved Asset Management: HSA asset transfers will now be completed within the same day, compared to the two business days required previously.

These enhancements signify a shift towards an operational model that values speed and user-friendliness, aiming to free Proficient’s teams from the shackles of manual tasks. Instead, employees can channel efforts toward strategic projects that drive growth and innovation.

Brian Cosgray, CEO and co-founder of Elevate, highlights the foresight of Proficient in embracing technological advancement: “Proficient is ahead of the curve in embracing automation and AI to help internal teams work faster, while also delivering a better experience for the groups depending on them for these important benefits.”

About Elevate

Elevate stands out as the first API-driven and AI-enabled consumer-directed benefits platform that significantly focuses on configurability and real-time automation. Launched in 2020, their vision is to eradicate outdated administrative practices from the benefits industry, offering a comprehensive solution for health savings accounts, flexible spending accounts, and more.

With a commitment to modernization, Elevate seeks to not only meet but exceed customer expectations. As their partnership with Proficient underscores, the goal is to pave the way for seamless integrations that enhance operational efficiency and elevate employee benefits to new heights.

As we anticipate the impact of this collaboration, it's evident that the future of employee benefit management is not just about keeping pace but leading the charge towards a more automated, efficient, and employee-centric experience.