June 27, 2006
HealthEquity®, Inc., and Physicians Plus Insurance Corporation
Enter into Strategic Alliance
Two leaders in the area of healthcare client services, education and support, are teaming up to offer a consumer-driven, health savings account (HSA) coverage option to consumers in Wisconsin. HealthEquity, Inc., an innovator in complete consumer-driven health coverage solutions and healthcare client services, and Physicians Plus Insurance Corporation, a managed care organization dedicated to high-quality products and supporting long-term health through community involvement, will team up to offer a product with superior client services.
“We are excited to partner with Physicians Plus. They have demonstrated that they are the innovator in their marketplace, and their commitment to consumer-driven healthcare is just another example of that innovation,” said Dave Hall, president and COO of HealthEquity.
”Physicians Plus is known for offering our members innovative programs, and HealthEquity is the perfect partner for us to work with to offer health savings accounts,” said Martin A. Preizler, president and CEO, Physicians Plus. “We are looking forward to working together with HealthEquity to roll out this revolutionary offering to our members.”
Health savings accounts are tax-advantaged accounts that are paired with high-deductible health plans. These accounts are used to pay day-to-day medical expenses, while the high-deductible plan pays for the costs of major medical events.
Consumer driven healthcare and HSA-based plans have taken off since their introduction in 2004. More than three million Americans are currently covered by an HSA-based plan. The most successful users of this new type of health coverage receive comprehensive client support from their insurance company and HSA provider to help them manage their healthcare costs and decisions. HealthEquity and Physicians Plus are both well-known for client support systems.
HealthEquity’s industry-leading client services include self-diagnostic tools, a 24-hour nurse line, online medical encyclopedias, health risk assessments, chronic illness management information research, preventive care information, cost treatment estimators, surgery videos and bill negotiation. Physicians Plus is well-known for community programs including: “GO: Get Out!” a program that encourages children to be active; “Good Health Bonus,” a rewards program for healthy behavior; and “Plus Perks,” which gives members discounts for healthful products and services.
HealthEquity will integrate an HSA product with Physicians Plus’ high-deductible health plans, giving Wisconsin consumers unparalleled access to client service and support. Integration of the two products gives employees and employers one-stop enrollment, claims payment and client service. HealthEquity is the first HSA administrator to offer integrated HSA plans.
About Physicians Plus Insurance Corporation
Physicians Plus Insurance Corporation of Madison, Wisconsin, is a nationally recognized managed care organization focused on providing high-quality, innovative products and services that help improve the health of the community. Founded in 1986 and owned in part by Meriter Health Services, Physicians Plus provides health insurance to approximately 95,000 members in South-Central Wisconsin. Find out more about Physicians Plus at www.HealthyChoicesBigRewards.com.
About HealthEquity®, Inc.
HealthEquity offers a complete solution for businesses and individuals seeking a consumer-driven health plan. HealthEquity specializes in offering healthcare accounts, such as health savings accounts, supplemented with unparalleled healthcare financial services and client-advisory tools. These tools give clients the support they need to navigate the healthcare system and make wise spending decisions. HealthEquity offers a consumer-driven solution as a stand-alone product and as an integrated product through our business allies. HealthEquity manages consumer-driven plans for over 1,000 employer groups nationwide.
For more information about HealthEquity, please visit www.HealthEquity.com.
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