Comprehensive analysis across core health products to give partners and employers the insights they need to make data-driven, strategic decisions about how to manage and grow their benefit offerings.
Benefit Analytics for Partners
Evaluate, Assess, Measure, and Benchmark Across Core Health Products.
Evaluate your account and plan performance to optimize benefit offerings.
Supporting your clients and their participants with the right offerings (and driving revenue for your business) shouldn’t be a guessing game. With our analytics, you can identify what offerings work best for your clients and your bottom line.
Assess your operational efficiency to drive client satisfaction and retention.
Efficient operations = less wasted efforts (and $$$) on processes that frustrate your clients. Using our analytics, you can easily assess your operational efficiency and identify areas of improvement to drive client satisfaction and retention.
Measure consumer engagement to maximize account growth.
With our analytics, you can view how often your employers’ participants interact with their accounts and how financially ready they are to pay for out-of-pocket expenses. Using this information, you can deploy tactics to help employees understand their benefits, engage with their accounts, and increase contributions. This helps prepare them for healthcare expenses AND drives revenue for your business.
Benchmark your performance to gain powerful insight about your market position.
Knowing how you compare to the marketplace is key to understanding how your business is performing. With our analytics, you can easily compare your performance with the rest of the WEX ecosystem (which includes hundreds of thousands of employers and tens of millions of consumers). Using this information, you can make strategic decisions about how to boost performance or differentiate yourself from the market.
Looking to accelerate your Medicare Advantage offering? Benefit Analytics for Medicare Advantage takes advantage of WEX benefits platform data through an interactive dashboard to help you understand plan utilization, adjust plan designs, and make strategic marketing decisions for your Medicare Advantage offerings.
Educating and informing employers about their benefits is at the center of what we do. We are excited to use benefit analytics to not only help our clients understand their benefit plans, but also use the data as a competitive advantage within our industry.”
Gary Knight, president of ProBenefits, a third-party administrator that specializes in CDH and COBRA.
Track, Promote, and Improve Future Offerings (and Utilization.)
Track employee engagement to improve future benefit offerings.
With our analytics, employers see how employees are using their accounts and how financially ready they are to pay for out-of-pocket healthcare expenses. This lets employers see what works (and what doesn’t) for their team, and when it’s time to renew, they can optimize their benefits package to fit the needs of their employees.
View how employees interact with their benefits to identify education gaps and promote utilization.
Using our analytics, employers can see how their employees are interacting with their accounts (and how often), how much they contribute, and where they are spending their benefits dollars. This helps employers identify what benefit design and education decisions are needed to help employees use and take advantage of their accounts.
Compare benefit offerings to similar companies in their market.
Using this information, employers can make strategic decisions about how to boost performance or differentiate their offerings from similar companies.
General-purpose medical FSAs cover hundreds of eligible medical, dental, and vision expenses. Did you know that 42% of FSA funds on the WEX benefits platform are spent on medical expenses? We’ve compiled a variety of data around FSAs and other benefits to help you better understand how benefits are designed and used. Check out all our insights on staffing, benefits offerings, and retention techniques on our Benefits Trends report.