BenSoft to Include HSA Management in RepayMe

Enhanced functionality Allows Employers and Third Party Administrators to
Offer Additional Benefits to Plan Participants

San Diego, CA-January 3, 2005-BenSoft, Inc. announced a major product enhancement that includes the integration of HSA management into its flagship RepayMe software. By adding HSA management into its software solution, RepayMe customers will be able to offer their plan participants the latest programs for managing healthcare expenses without risking their coverage. The expanded solution is available now to both current and new RepayMe customers.

Without having to upgrade or reinstall any software, RepayMe customers can quickly add their new HSA functionality to their existing accounts. That functionality includes a 100% web-based solution to manage the spectrum of reimbursement accounts, such as Flexible Spending Accounts (FSA), Health Reimbursement Accounts (HRA), and Transportation and Parking Accounts (S132). Additionally, RepayMe provides real-time debit cards to plan participants so they can have direct access to funds at the point of purchase/service along with 24/7 account status access.

"RepayMe customers are typically at the forefront of discovering ways to enhance benefits programs for their plan participants," said Tom Horan, BenSoft's president and CEO. "By including Health Savings Accounts into RepayMe, our customers empower their plan participants through increased savings and more control over their healthcare dollars."

RepayMe enables customers to simplify benefit administration processes with an easy to use interface. Key features include the ability to automatically notify plan participants via e-mail about claim status updates and reimbursement notifications, automatically send alerts and reminders to participants to make use of account balances prior to the end of the plan year, customizable web and e-mail communications, plus a personalized debit
card that eliminates out of pocket expenses for plan participants and speeds claims processing.

About BenSoft, Inc.
Founded in 1991 and headquartered in San Diego, CA, BenSoft develops and markets RepayMe.com, an ASP-based benefits administration software solution designed specifically for Third Party Administrators and self-administrating employers seeking a cost-effective reimbursement account administration solution. RepayMe is the 100% Web-based software solution that provides an integrated real-time debit card option, online Participant Claim Entry, Employee Self Service, Employer Self Service, and a Business Processing Outsource (BPO) option for FSA/HRA/HSA management. BenSoft provides innovative benefits solutions to companies ranging in size from 250 to over 250,000 employees. 

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BenSoft and RepayMe are registered trademarks of BenSoft, Inc. Other company and product names may be trademarks of their respective owners.