In Part 1 of this blog series, I discussed how HealthExpense Track enabled me to become not only organized, but also provide peace of mind that I could handle a dreaded IRS audit tomorrow or even thirty years from now. Now I want to talk about a new feature, HealthExpense Pay.
HealthExpense Pay is a natural extension of our track functionality. HealthExpense is in essence the center of the universe for my personal healthcare information and payments. I no longer need to go to multiple insurance websites to gather my data. Similar to Mint.com, HealthExpense aggregates all of this data within the application and regardless of your insurance plan, can pay all of your providers.
With the consolidated information in HealthExpense Pay, I can click “pay”, and the portion I am responsible for is immediately sent to the provider. No longer do I have to deal with wondering when my provider will bill me, mailing various payments or visiting multiple website to complete a bill payment. The system then automatically updates how and when I paid the claim.
You might wonder why this even matters if your bank bill-pay allows you to also make direct payments. While this is accurate, it is only the case for post-tax dollars spend. Banking services fail to aid in the tracking functionality required by the IRS.
An exciting feature that will be rolled out next for HealthExpense Pay is the opportunity to access updates and receive email notifications of where your payment is throughout the entire payment process: scheduling, sending and processing. At any given time, you will be able to use the application to see where your payment is within the cycle.
The power of this one application provides the resource to track my healthcare responsibly, pay providers, save time and organize everything within one easily accessible location.
What does the future look like for HealthExpense Pay? Many things. We continue to vet new ideas to streamline the consumer healthcare pay experience. What if you could prepay your prescriptions? You could walk into your local pharmacy and never even pull out your wallet. Or what if you could prepay for all of your prescription refills? Many Americans have at least one chronic condition they manage. Why not get rewarded for pledging loyalty to a pharmacy with future prescriptions.
While these are not yet available resources, the future is bright at HealthExpense as we continue to work to create savings and simplicity for consumers.