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Elevate Rises as a Leader in Consumer Benefits Technology

Elevate, a trailblazing platform for benefits administration, has made headlines with its recent recognition in the Inc. 2024 Best in Business list. Honored for its innovative technology in the On the Rise category specifically for the Rocky Mountain Region, Elevate is transforming the way consumer benefits accounts are managed. This acknowledgment is a testament to the company's commitment to modernizing outdated systems and making benefits more accessible for countless Americans.

Overcoming Industry Challenges

For decades, consumer health accounts such as Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) have faced numerous challenges. Many employees encounter friction due to cumbersome reimbursement processes, lengthy claims reviews, and the complexities surrounding benefit utilization. Elevate identified these pain points and developed a sophisticated cloud-based, API-driven solution to tackle these hurdles.

Brian Cosgray, Elevate's co-founder and CEO, highlights the necessity of quick access to benefits, especially as many American workers are living paycheck to paycheck. He states, "HSAs and FSAs are excellent tools, but they often go underutilized due to their complexity. Fast reimbursement is crucial for managing essential financial obligations such as healthcare expenses."

With Elevate's innovative approach, employees benefit from instant access to their funds, allowing them to utilize their benefits seamlessly, maximize their savings potential, and minimize frustrating delays. The platform employs artificial intelligence to expedite the reimbursement process, connecting users to their finances in seconds. This efficiency and security not only aid employees but also reduce operational costs for benefits administrators.

Acknowledgment of Excellence

The Inc. Best in Business list seeks to recognize companies that have not only excelled in their operations but have also substantially impacted their sectors, showcasing leadership in customer expansion and innovation. Elevate stood out among over 240 recognized companies that applied for this prestigious acknowledgment across various industries such as technology, healthcare, and finance.

Mike Hofman, the editor-in-chief of Inc., expressed his admiration for the influence these businesses have on their respective fields, stating that they are at the forefront of solving critical issues while positively shaping the business landscape for future generations.

In addition to its place in the Best in Business accolades, Elevate has recently garnered other notable awards such as the 2024 Luminaries Award from BenefitsPRO, recognizing its leadership and innovation in employee benefits. Moreover, co-founder and CTO Brian Strom has been named an Outstanding Tech Innovator by Employee Benefits News, further solidifying Elevate's position as a thought leader in the fintech space.

Looking Ahead

Founded in 2020, Elevate has established itself as the first fully-integrated, cloud-based, API-driven and AI-enabled consumer-directed benefits platform. With a focus on flexibility, customization, and automation, Elevate caters to varied account types from HSAs to health reimbursement arrangements (HRAs) while fostering collaborations with professional employer organizations (PEOs), third-party administrators (TPAs), and health plans.

As Elevate continues to innovate and expand its offerings, the company stands at the forefront of the benefits administration sector, promoting a culture of health and financial wellness for employees across the United States. With the acknowledgment of its impactful technology through awards like Inc.’s Best in Business, Elevate is well-positioned to lead the industry into a more efficient and user-friendly future.

For more information about Elevate and its innovative solutions, visit www.elevate.inc.