Alegeus unveils AI-powered HSA platform

Alegeus launched a mobile platform using artificial intelligence to personalize recommendations for a user's health savings account at its annual Client Conference this month, the Waltham, Mass.-based company announced May 21.

The Smart HSA's machine learning guides employees to the most beneficial, cost-efficient usage of their HSAs which, in turn, helps employers and brokers design more intuitive plans, ensure user satisfaction and maximize their cost savings.

The platform "learns" and develops more precise suggestions and guidance with each healthcare expense. Using this data, the Smart HSA can advise a user that they may have overpaid for a service, offer recommendations about annual funding and account enrollment decisions, and analyze how a medical condition will impact current saving and spending habits.

Beyond these AI-enabled capabilities, the platform also provides a "virtual medicine cabinet" to track recurring prescription costs and offers helpful reminders about uploading receipts, obtaining reimbursements and optimizing HSA contributions.

Alegeus plans to make the Smart HSA fully available to the market by the first quarter of 2020.

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