CXC Solutions - Debit Card Substantiation Processes
Fast Processing
Secure Transactions
Compliance Assurance
User-Friendly Interface
24/7 Support
THE POWER OF 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.
Our Services
Real-Time Transaction
Ensuring every transaction is reviewed in real-time for compliance and accuracy, minimizing errors and delays.
Automated Substantiation
Utilizing advanced algorithms to automatically substantiate eligible expenses, reducing the need for manual receipts.
Customized Reporting
Offering comprehensive reporting tools that allow for easy tracking and management of substantiation processes.
Direct Integration
Seamlessly integrating with existing HR and financial systems for a streamlined experience.
About CXC Solutions
At CXC Solutions, we are committed to revolutionizing the claims management landscape. With over a decade of experience, our Dallas-based team specializes in providing innovative and secure claims exchange solutions. Our mission is to streamline the claims process, ensuring fast, accurate, and secure transactions. We believe in building partnerships that drive success, offering customized solutions to meet the specific needs of each client. Our commitment to excellence is evident in every aspect of our work, from our advanced technology platforms to our expert customer support.
THE BENEFITS OF DEBIT CARD SUBSTANTIATION PROCESSES
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
“I am literally numb from the success we are seeing. I am so appreciative of the CXC work up to this point and the fast action in the last few weeks to get ready for the broader rollout.”
- President, "Top 3" Third Party Administrator
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Frequently Asked Questions
Why automate the debit card substantiation processes?
Automating the debit card substantiation processes is crucial due to IRS mandates requiring all FSA debit card transactions to be substantiated. Historically, a significant portion of these transactions are verified manually, a process that is both labor-intensive and offers a subpar user experience. Automation significantly reduces operational costs and enhances the participant experience by making the substantiation process more efficient and user-friendly.
What makes CXC's approach unique?
CXC's approach is tailored to meet the specific needs of its clients. Unlike one-size-fits-all solutions, CXC allows clients to set their tolerances and preferences, ensuring that the substantiation process aligns perfectly with their compliance policies and operational requirements. To get started, speak to our experts now
How does the auto-reimbursement feature work?
The auto-reimbursement feature matches insurance carrier claims with debit card transactions using a set of configurable rules, achieving high auto-substantiation rates. This allows for flexible alignment with TPAs' compliance policies regarding service date tolerances, claim types, and more.
Can the card substantiation solution be customized?
Yes, CXC’s card substantiation solution is highly customizable. It allows TPAs to set specific tolerances for service dates, claim types, etc., to align with their compliance policies, ensuring a tailored approach to claims and transaction matching.
What expertise do you bring to TPAs?
The CXC team is comprised of experts with over 350 combined years of experience in the benefits industry. This deep well of knowledge ensures that TPAs receive top-notch support and guidance, enhancing the efficiency and effectiveness of their claims processing and management tasks.