First Data will Provide Healthcare Benefit Prepaid Programs for Four More Years
ATLANTA, March 8, 2012 – First Data Corporation, a global leader in electronic commerce and payment processing, and Aon Hewitt, the global human resource solutions business of Aon Corporation (NYSE: AON), announced today that Aon Hewitt has extended its agreement to receive multi-purse processing services for its entire suite of healthcare accounts through 2014.
The strategic partnership initially was established between the two companies in 2004, allowing consumers access to pre-tax dollars set aside for healthcare in flexible spending accounts (FSAs), health reimbursement accounts (HRAs) and health savings accounts (HSAs). Today, the programs serve more than 200 organizations with healthcare outsourcing needs.
“In our current economy, one way employees can extend their dollars is by opening a benefit account that allows them to take advantage of pre-tax dollars,” said Lindsay Luth, leader of the Your Savings Account group with, Aon Hewitt. “First Data has been our trusted source for supporting our benefit card programs so that our clients and their employees can access pre-tax dollars set aside for healthcare expenses.”
First Data’s healthcare solution, part of its comprehensive prepaid product suite, also provides a broad collection of auto-substantiation tools. The solution helps ensure that consumers only use the funds at appropriate merchants and for items pre-approved by the Internal Revenue Service.
“The relationship with a global company like Aon Hewitt underscores our continued focus in providing expert solutions to the health care market,” said Joan Christensen, vice president, First Data Healthcare Products. “With this agreement, we support the company’s efforts to deliver improved services to a diverse workforce by enabling consumers to access their healthcare dollars securely, reliably and efficiently through card payment options.”
About Aon Hewitt
Aon Hewitt is the global leader in human resource solutions. The company partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance. Aon Hewitt designs, implements, communicates and administers a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies. With more than 29,000 professionals in 90 countries, Aon Hewitt makes the world a better place to work for clients and their employees. For more information on Aon Hewitt, please visit www.aonhewitt.com.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Joe Micucci, Aon Hewitt
Kwiyoung Baumgarten, First Data