HSA Expansion at the Forefront of President Bush's Health Care Reform; UMB Healthcare Services' Dennis Triplett Provides Reactio
February 01 2006 - 4:25PM
Business Wire
In the January 2006 State of the Union Address, President Bush
recommended a comprehensive agenda "to make health care in America
more affordable, portable, transparent, and efficient." Dennis
Triplett, president of UMB Healthcare Services, a division of UMB
Financial Corporation (NASDAQ: UMBF), provides the following
statement in reaction to the President's proposed agenda for the
expansion of Health Savings Accounts: "The President proposed an
agenda focused on making health care more affordable and
accessible. These changes would also open the door to beneficial
health care for a vast population who currently has difficulty
accessing health care. The shift to consumer directed health care
has gained momentum in 2005. The reforms the President outlined
last night will further accelerate that momentum and eventually
help the health care situation in America" Dennis Triplett
President, UMB Healthcare Services UMB Healthcare Services was the
first financial partner to provide multi-purpose card technology to
the health care industry, and is in the process of a developing
Health Card Line of Credit product. Triplett is a charter member of
The HSA Council -- an organization formed by the American Bankers
Association and the American Bankers Insurance Association
committed to increasing the distribution of health savings accounts
through banks. Since the inception of Medical Savings Accounts in
1996, UMB Healthcare Services has been a leader in the health care
market place. Today, UMB supports Health Savings Accounts (HSAs),
Flexible Spending Accounts (FSAs) and Health Reimbursement
Arrangements (HRAs). UMB has the experience, systems backbone,
investment options and client base bringing an integrated solution
to the health care industry including Humana, Assurant, Motivano,
MHM Resources, among others. UMB Financial Corporation is a
multi-bank holding company headquartered in Kansas City, Mo.,
offering complete banking and related financial services to both
individual and business customers. Its banking subsidiaries own and
operate 140 banking centers throughout Missouri, Illinois,
Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of
the holding company and the lead bank, UMB Bank, n.a., include an
investment services group based in Milwaukee, Wisconsin, a trust
management company in South Dakota, and single-purpose companies
that deal with brokerage services, consulting services and
insurance. UMB was named one of Business Week's "Web Smart 50"
companies in 2005.
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