Card Substantiation
Why Automate?
IRS mandates that all FSA debit card transactions be substantiated. Today, a large portion of these are manually verified. This process is effort intensive and the user experience is not positive. Automating this process reduces costs and improves participant experience.
What is Claims XO®?
Claims XO® matches insurance carrier claims in any format with debit card transactions using an array of rules that can be configured using a rules engine. This solution has been used to auto-substantiate up to 93% of transactions that would otherwise need to be substantiated manually.
Why CXC?
Our solution is not “one size fit all” – we allow you to set tolerances for service date, claim type, etc. to align with your compliance policies. We work with over 75 different insurance carrier feeds for processing medical, vision, dental, etc. claims in a secure SOC2-compliant system.
The Benefits
Carrier Formats
Capability to handle any electronic format provided by the insurance carrier
Rules Engine
Configurable rules engine to match based on claim channel/type, service date, etc.
Transaction Import
Matched transactions in TPA-specific format (e.g. Alegeus, WEX Health)
Claims Cleansing
Claims are scrubbed, filtered and validated before substantiating transactions
SOC2 Compliant
Secure data transfer and archival of claims and card transaction data for up to seven years
Customer Service Portal
Web portal to track matching details for customer inquiries and operational reporting