LITTLE ROCK, Ark., March 13, 2018 /PRNewswire/ -- DataPath, Inc., a leading innovator of employer-sponsored benefits administration solutions, announced today its new Health Savings Account (HSA) administration and investment functionality in Summit, the company's cloud-based platform. The HSA expansion will make DataPath Summit the industry's only SaaS solution with fully-unified CDH, investment and COBRA billing capabilities. With Summit HSA, third party administrators (TPAs) have the ability to administer all lines of service from one powerful platform. Prior to its release, benefits administrators had to have multiple solutions and banking partnerships to offer HSA management services alongside other CDH accounts.
"Summit is the most comprehensive benefits administration platform on the market with full CDH, HSA, and COBRA functionality," said Greg Licata, DataPath's chief product officer. "It's a single, cohesive solution designed to meet the needs of TPAs."
The inclusion of HSA and investment functionality helps TPAs increase revenue and deliver greater client satisfaction due to the platform's low investment threshold, industry-leading customer support and intuitive interface. Summit HSA also allows TPAs to streamline their business relationships, as they'll no longer need to partner with separate banks for custodial banking and investments because Summit is a custodial platform.
As a turnkey solution, Summit HSA empowers TPAs with:
- Simplified HSA administration
- Integrated investments
- Custodial platform
- Benefits debit cards
DataPath launched HSAToday® in 2005, at the forefront of the HSA market. In 2014, the company launched Summit for FSA, HRA and Transit account administration and then released Summit COBRA in 2017. TPAs can make the most of their administration capabilities with streamlined account setup, global record keeping, non-discrimination testing and more. As an all-encompassing solution, DataPath Summit stands alone with its unique functionality.
"DataPath leads our industry with advanced solutions and top-notch customer service," said John Robbins, Jr., DataPath president and CEO. "We're proud of Summit's groundbreaking capabilities. What more could a TPA ask for than a single service provider for all their benefits administration needs?"
About the company: DataPath, Inc. is privately-owned software development company based in Little Rock, Arkansas. Since 1984, DataPath has been creating solutions for the administration of consumer-directed healthcare accounts, premium billing, and payments. The company is also an end-to-end card processor. Learn more at https://dpath.com/solutions/.
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SOURCE DataPath, Inc.