WEX and Health-E Commerce Team to Ease HSA and FSA Reimbursements

Consumer health and wellness online retailer Health-E Commerce has launched a partnership with WEX.

This collaboration will integrate the company’s FSA Store (flexible spending account) and HSA Store (health savings account) offerings into the WEX benefits portal, the companies said in a Monday (Jan. 12) news release.

The goal here is to counter the “fragmentation and confusion” that account holders experience and make the FSA/HSA reimbursement process easier, the release added.

“Our stores are built on the belief that benefits should be easy to use and relevant to real life, and by delivering greater personalization, convenience and security, we’re removing barriers to utilization and helping consumers benefit better from their tax-free funds,” said Zack Peckham, CEO of Health-E Commerce.

The release noted that FSA Store and HSA Store were the first — and still leading — online stores that only sell products and telehealth services that are eligible expenses in accordance with IRS regulations for tax-free healthcare accounts. 

“This removes the guesswork of spending FSA/HSA funds, ultimately giving account holders and TPAs peace of mind that they are using their funds correctly and reducing the potential for FSA forfeitures,” the release added.

With this integration, account holders can access FSA Store and HSA Store directly from their WEX benefits portal and gain capabilities such as the ability to pay for eligible items directly from their FSA/HSA account with a single click, doing away with the need to enter card information every time they use their funds.

The partnership comes as younger consumers are finding it harder to pay for healthcare, as recent PYMNTS Intelligence research shows.

The report “Economic Pressures Split the Generations as Each Rethinks the Basics” found that insurance does not insulate members of Generation Z and younger millennials from strain, with premiums, deductibles and out-of-pocket payments increasingly clashing with early-career incomes, lower savings and fewer job-related benefits.

While these consumers are less likely to have chronic conditions, they are more likely to pay directly when they seek care. By contrast, older consumers are more likely to have comprehensive coverage through Medicare or long-established employer plans, lessening their exposure even as they require more overall care.

“That imbalance helps explain why younger adults respond to rising costs by delaying or avoiding treatment rather than absorbing higher bills,” PYMNTS wrote. “Out-of-pocket payments are not occasional exceptions for these consumers. They are a routine part of accessing care, which turns even preventive visits into financial decisions.”

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