Medical Software

Welcome to
Medical Software

Medical Software - Featured Article

January 23, 2012

Calgary Company Offers Easier Way for Canadians to Manage Health Savings Accounts



Calgary-based PreAxia Health Care Payment Systems Inc. has launched an automated platform for managing Health Spending Accounts (HAS) in Canada that, through the use of Internet technology, allows HSA brokers to more easily offer and manage HSA accounts, according to Tom Zapatinis, the company’s president and chief executiveofficer.

Mario Toneguzzi writes in the story that Zapatinis said, “An HSA is a special bank account to set aside funds for personal health care…similar to an RRSP, offering tax advantages to both employers and employees.”

An RRSP is a registered retirement savings account. In the U.S., HSAs are “the hybrid of flex spending accounts and IRAs,” according to Neil duMause.

“PreAxia technology simplifies fund-management, claims adjudication, transaction processing and online health benefit administration, through a broker’s own website. This automation results in cost savings for both HSA brokers and the companies that purchase these services,” Zapatinis told Toneguzzi. 

“Unlike the more traditional insurance plans, HSAs provide employers and employees with greater control in both the amount of funds invested and how the funds are used. These accounts are available through health insurance brokers and financial advisers,” Zapatinis said.

The company, which has been developing the technology for three years, now has eight employees, according to Toneguzzi, though Zapatinis says he is planning to hire more people now to market the product, he writes.

“Health care spending accounts have been available to Canadian businesses and individuals for over 25 years. Surprisingly, most people have not heard of them,” Zapatinis told Toneguzzi. “We have found a way to simplify the system, making it easier to understand and manage. We make it easier for the business to set up the account for their employees and the employees to manage their own personal accounts through the Internet. Anyone that has ever accessed their bank account on the Internet should find this very comparable.”

Zapatinis said that, “Brokerage firms and brokers can create their own health spending account program. The system provides the tools to establish a privately-branded health spending account product as well as design a website and marketing materials to complement the brand.”

PreAxia also announced this month that it “has agreements to expand access to its automated and paperless health spending account program through more than 500 brokers throughout Canada,” according to Toneguzzi.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO East 2012, taking place Jan. 31-Feb. 3 2012, in Miami, FL. ITEXPO offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO registration, click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.



Deborah DiSesa Hirsch is an award-winning health and technology writer who has worked for newspapers, magazines and IBM in her 20-year career. To read more of her articles, please visit her columnist page.

Edited by Jennifer Russell
Get stories like this delivered straight to your inbox. [Free eNews Subscription]


Medical Software Related Articles