Silver is a platform that automatically collects receipts from over 40 retailers and uses AI to identify eligible FSA and HSA medical expenses, streamlining the claims process. By auto-generating and submitting claims to more than 97 FSA/HSA providers, Silver helps users recover an average of $370 in eligible expenses with minimal effort.
Funding
$500K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals with Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) struggle to identify eligible expenses and navigate the often complex claims process, leading to forfeited contributions and unrealized savings. Manually tracking receipts from multiple retailers and submitting claims to various FSA/HSA providers can be time-consuming and prone to errors.
Solution
Silver automates the process of identifying and claiming eligible FSA/HSA expenses by connecting to users' online accounts at over 40 retailers and healthcare providers to automatically collect receipts, medical bills, and Explanation of Benefits (EOBs). The platform employs AI-powered eligibility screening, leveraging a catalog of over 80,000 products to identify FSA/HSA-eligible purchases. Silver then auto-generates and submits claims to over 97 FSA/HSA providers on the user's behalf, streamlining the reimbursement process and helping users recover an average of $370 in eligible expenses. The platform also offers a mobile app for managing expenses, collecting receipts, and tracking claims on the go.
Target Audience
Silver primarily targets individuals with FSA and HSA accounts who seek a streamlined, automated solution for identifying eligible expenses and submitting claims to maximize their healthcare savings.
Features
- Automatic receipt collection from over 40 retailers, including Amazon, Costco, Target, and Walmart
- Medical bill and EOB collection from health insurance companies like Kaiser, Aetna, and Humana
- AI-powered eligibility screening with a catalog of over 80,000 FSA/HSA-eligible products
- Automatic claim submission to over 97 FSA/HSA providers, such as Navia, Optum, and PayFlex
- Mobile app for managing expenses, collecting receipts, and tracking claims
- Secure receipt storage with SOC2 compliance and data encryption
- Chrome extension for automated receipt collection and claim submission