SAN FRANCISCO, June 19, 2007 (PRIME NEWSWIRE) -- Canopy Financial, the market leader in financial technology solutions for consumer-driven healthcare, announced today that it has expanded its product capabilities to support all healthcare account types, including Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Voluntary Employees' Benefits Associations (VEBAs).
The expanded set of products builds upon the success of Canopy's award-winning HealthDirect(sm) platform, which today serves the world's largest healthcare and financial institutions with account management, investments trading, card management, customer relationship management, and payment processing capabilities specifically for consumer-driven healthcare.
Features such as multiple claims entry, automatic substantiation and payment, incentive reimbursement, account stacking, and crossover claim management from the health, dental, and PBM plans are included in Canopy's expanded products and services.
"Canopy has established leadership in the Health Savings Account market by building financial technologies that serve all constituents in the healthcare value chain, most importantly the consumer," said Vik Kashyap, Chairman and Founder of Canopy Financial. "Extending the capabilities of our market-leading platform has allowed us to innovate new capabilities that simplify the complex business of healthcare while helping our clients exploit additional growth opportunities."
The FSA, HRA, and VEBA modules of HealthDirect will be commercially available on June 20, 2007.
About Canopy Financial
Canopy Financial provides innovative technology solutions that connect healthcare and financial services. Serving some of the world's largest healthcare and financial institutions, Canopy powers the development and delivery of complete healthcare banking services for both consumers and businesses. Founded in 2004, Canopy maintains offices in San Francisco and Chicago. For more information, please visit our web site at www.canopyfi.com or call 1-866-960-4700.