We offer a personalized and simplified approach to help members manage their health care costs and accumulate wealth with tax-advantaged health accounts. BenefitWallet is our latest innovation that integrates the member experience across the continuum of health care engagement, funding, saving and payment. We offer a scalable and portable solution that is easily configured to complement your approach to benefits administration.
Our BenefitWallet HSA is the nation's top HSA administrator. Our HSA solution was first brought to market in 2004, when Congress passed the legislation enabling HSAs. Since then, we have grown to be one of the largest administrator of HSAs in the nation. With The Bank of New York Mellon (BNY Mellon) as our custodian, Xerox serves 30,000 HSA employer customers and manages more than 2,000,000 consumers with an accumulated $1.74 billion of HSA assets.
The Bank of New York Mellon is the custodian for the FDIC-insured checking portion of the HSA. Established in 2007 from the merger of Mellon Financial Corporation and The Bank of New York Company, Inc., BNY Mellon is a leading asset management and securities services company, uniquely focused to help clients manage and move their financial assets and succeed in the rapidly changing marketplace. Headquartered in New York, BNY Mellon has $28.5 trillion in assets under custody or administration and $1.7 trillion under management.
BenefitWallet is a product offered by Xerox, a leading provider of health care administration solutions, including spending accounts. With Xerox, you'll have the peace of mind that comes with knowing your partner is backed with the resources of a FORTUNE 500 leader in HR services.
Since the invention of Xerography 75 years ago, the people of Xerox (NYSE: XRX) have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping organizations be more efficient so they can focus on their real business. Headquartered in Norwalk, Connecticut, more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations. Learn more at www.xerox.com