Union Bank & Trust Selects Alegeus to Power Benefit Account Offerings

Union Bank & Trust is pleased to announce a partnership with Alegeus, the market leader in consumer directed healthcare (CDH) solutions. Union Bank & Trust (UBT; www.ubt.com) has selected the Alegeus (www.alegeus.com) platform to power UBT’s benefit account product offerings. In addition to supporting UBT’s existing health savings accounts (HSA), the Alegeus partnership will enable UBT to expand its portfolio to include additional account-based products – such as flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). These expanded benefit account products will deliver enhanced value to UBT’s broker and employer customers, and position UBT as a one-stop shop for all benefit account-related products and services.

Account-based benefits have become a staple of employee benefit packages. The number of consumers in HSAs is now nearly 20 million and growing at a rate of more than 20% annually. In order to best serve this growing market’s demand, UBT recognizes the need for a specialized technology solution that extends beyond the capabilities of its core banking platform. Alegeus has a deep understanding of the HSA and benefit account landscape, the broker communities, and the dynamics of benefit adoption in order to build a go-to-market strategy that maximizes employer group sales and consumer participation.

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