Healthcare Spending Accounts ('HSA') help business owners save on medical costs by turning an after-tax personal medical expense into a before-tax business expense. This plan is a smart and efficient option for the modern-day entrepreneur helping the plan member minimize coverage gaps between government and employer funded healthcare and other health insurance options.
The Mastercard HSA solution is unique to the Canadian marketplace and is particularly applicable to small companies and self-employed business owners. In
Together, Everyday People and SEB are the first to introduce this integrated employee healthcare spending account and credit card program into the Canadian market. This program represents a large specialty opportunity targeting the HSA market, currently estimated at over
'A joint venture with SEB to offer a healthcare spending account program for small business owners and their employees is yet another way that Everyday People, along with one of its partners, provides people with greater financial flexibility,' states
Within the joint venture, Everyday People will operate as the program manager and SEB will operate as the HSA program administrator and adjudicator. SEB has an established customer base of employers who use SEB's proprietary benefit administration and billing solutions (including SaaS solutions) to self-administer health benefit programs for their employees.
'This innovative program will streamline operations, increase accuracy and boost efficiency, and offers employees a reduction of out-of-pocket burden and costs normally associated with traditional healthcare spending accounts,' states
About
Everyday People is a financial technology and consumer financing company founded on the belief that everyone deserves access to credit, instant payments and the opportunity for homeownership. Through our technology driven ecosystem, our alternative and specialty credit financing programs offer credit and payment cards, prepaid card programs, homeownership facilitation, consumer lending, and payment management services. Our mission is to help our clients be their best financial selves and our goal is to offer the kinds of credit products and services that help everyday people add extraordinary value to their everyday lives.
Contact:
Tel: 1 888 825 9808
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain 'forward-looking statements' or 'forward-looking information' (collectively referred to hereafter as 'forward-looking statements') under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the structure and terms of the joint venture, including the HSA program, and the business, plans and operations of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, termination of the definitive agreements expectations and assumptions concerning the Company as well as other risks and uncertainties, including those described in the filing statement of the Company dated
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