Elevate Named to Inc.'s 2024 Best in Business List as On the Rise Company for Technology Modernizing Consumer Benefits Accounts

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Dec 04, 2024, 07:00 ET

Annual list recognizes industry-leading companies that are the best at what they do

DENVER, Dec. 4, 2024 /PRNewswire/ -- Elevate, a modern consumer directed benefits administration platform, today announced its inclusion on the Inc. 2024 Best in Business list in the On the Rise category for the Rocky Mountain Region. Elevate was recognized for modernizing outdated technology used to administer benefits accounts, like health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs), which are used by millions of Americans to pay for needed care.

"For over 40 years, Inc. has been committed to recognizing America's most dynamic businesses and honoring the great work they do. These businesses have had a profound impact on their industries, solving important problems, and shaping the future of business in ways that will have lasting effects," said Inc. editor-in-chief Mike Hofman.

Consumer health accounts traditionally have been plagued by reimbursement delays, lengthy claims reviews and manual processes have made these programs cumbersome for both employees and administrators. Elevate tackles these challenges with a cloud-based, API-driven solution that delivers scalability and security, enabling companies to support all plan types from a single platform. Using AI, Elevate simplifies the reimbursement process and connects employees with their money in seconds. Immediate, automated experiences also improve efficiency and reduce costs for benefits administrators.

"HSAs and FSAs are great tools, but many employees do not take advantage of them because they are confusing. Yet, with an increasing number of working Americans living paycheck to paycheck, the ability to get fast reimbursement of funds is critical to affording essential expenses like medicine," said Brian Cosgray, Elevate co-founder and CEO. "We are honored by Inc.'s recognition as a leading fintech company with the technology that makes it easier for more people to take advantage of these valuable benefits to cover healthcare expenses."

Inc.'s Best in Business list recognizes companies that, through exceptional execution, have achieved significant milestones and core business wins, like customer expansion, key product launches, increased market share, and industry-defining accomplishments. Companies from a wide range of industries – such as technology, health care, finance, and retail – have been recognized for their success and their positive influence on the business world.

Inc.'s Best in Business Awards are open to companies of all sizes and types, in all industries and locations. Out of thousands of applications, Elevate was selected among 240 other companies to join this esteemed group. Inc. editors and reporters hand-review every application and select Best in Business honorees that, in each of the award categories, have had an outstanding influence on their communities, their industries, the environment, or society as a whole.

To see the complete list, please visit inc.com/best-in-business.

Elevate was recently recognized with several other notable honors. The company received a BenefitsPRO's 2024 Luminaries Award for leadership and the 2024 Tech Award for AI Innovations in Employee Benefits by Lighthouse Research & Advisory. In addition, Elevate's co-founder and CTO, Brian Strom, was recently named an Outstanding Tech Innovator by Employee Benefits News.

About Elevate

Elevate is the first completely cloud-based, API-driven and AI-enabled consumer directed benefits platform with a focus on configurability, embeddability and real-time automation. The all-in-one platform can manage all types of benefit accounts, from health savings accounts (HSAs) to complex health reimbursement arrangements (HRAs), and even commuter and lifestyle accounts. Elevate's team of industry experts recognized the need for modern technology in an outdated benefits administration industry, which led to the creation of Elevate in 2020. Today, Elevate collaborates with forward-thinking partners, including professional employer organizations (PEOs), third party administrators (TPAs), health plans, benefits administrators, and financial services companies, to provide a fully integrated benefits account experience for thousands of employers and their employees across the U.S. Learn more at www.elevate.inc

About Inc.

Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.'s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, digital, print, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.

SOURCE Elevate