WEX has launched a powerful AI-powered claims tool to simplify and accelerate FSA reimbursement processing for both employees and HR teams. This smart tool automates documentation verification and improves claim accuracy, offering a seamless FSA reimbursement experience from start to finish.

The intelligent tool delivers over 97% precision in validating eligible claims. It automates receipt checks, pre-fills forms, and approves valid claims within minutes. With this, HR professionals can reduce manual tasks, enabling faster and more efficient reimbursement handling.

“HR and benefits teams face increasing workloads,” said Jennifer Whitmire, Senior VP of Product at WEX. “With intelligent automation, we’re helping them deliver faster FSA reimbursements without increasing pressure on their teams.”

How the tool works:

WEX’s latest AI tool transforms FSA claims by using intelligent automation to simplify every step of the process:

  • Real-time document verification alerts users if required data is missing.
  • Smart form autofill reduces errors by pre-filling important fields.
  • Rapid claim approval allows eligible expenses to be processed in minutes.

This tool addresses the most common reasons claims get denied—such as incomplete or incorrect documentation—ensuring a smoother, error-free claims process.

Additional Key Benefits:

  • Quicker payouts: Claims are processed in under 2 minutes, compared to 2 business days previously.
  • High precision: Achieves 97%+ accuracy in reimbursement calculations.
  • Lower HR workload: Automation minimizes manual reviews and repetitive tasks.
  • Employee confidence: Real-time feedback helps ensure accurate and complete claims.

Built with Security and Scale:

WEX built this tool with enterprise-grade security. It meets HIPAA standards and follows strict governance protocols. The system ensures safe, scalable FSA claims processing across organizations.

“We’re investing in AI tools that deliver long-term value, not just quick fixes,” Whitmire added. “Our aim is to simplify benefits management and give employees more control over their reimbursements.”

With over 72% of public sector workers and 47% of private sector employees now using FSAs (according to the Bureau of Labor Statistics), WEX’s new AI tool comes at a critical time, especially with open enrollment on the horizon.

Explore HR Tech News for the latest advancements in Human Resources Technologies and insightful updates from industry experts! 

News Source: Businesswire.com