UMB and ConnectYourCare Offer Correspondent Banks Next Generation HSA Product
January 09 2007 - 4:14PM
Business Wire
UMB Healthcare Services, a division of UMB Financial Corporation
(NASDAQ: UMBF) and ConnectYourCare, a Revolution Health Group
company, announced today they will market an integrated HSA product
to more than 800 UMB correspondent banks. �We are pleased to be
able to offer an HSA solution to our correspondent banks that can
compete with solutions offered by larger banks,� said Dennis
Triplett, president of UMB Healthcare Services. �We selected
ConnectYourCare�s solution because of their focus on employer
ease-of-use and consumer-friendly tools and services.� The HSA
product will be offered through UMB�s correspondent banking
division. It will enable customers to effortlessly enroll
themselves or their employees in an HSA. To accomplish this, UMB
and ConnectYourCare offer a comprehensive online employer and
individual self-service tool. These tools are complemented with a
full-suite of consumer communications that thoroughly explain HSAs,
tax filing information and statements. HSA account holders will
enjoy the convenience of an integrated Internet portal with health
education and comparison-shopping tools,�real-time�account
balances, and state-of-the-art consumer health payments
administration including an intelligent healthcare payment card. In
addition, the healthcare accounts are linked to UMB�s FDIC-insured
bank accounts and with a single sign-on process, account holders
have access to investment choices including a money market account
and dozens of mutual funds in seven different fund families through
UMB Financial Services, Inc.* �UMB Healthcare Services is a pioneer
in the financial healthcare industry and ConnectYourCare is pleased
to play a key role in their impressive healthcare offering,�
commented Terry Hunter, CEO of ConnectYourCare. �With our packaged
HSA solution, correspondent banks can go-to-market quickly with a
highly competitive product.� About ConnectYourCare
ConnectYourCare�s benefit delivery platform provides a pathway for
migration to CDH, supplying tools for employees to better manage
their healthcare choices and a vehicle for employers to realize
healthcare cost containment. ConnectYourCare solutions include a
multi-purse health payment card and Internet portal for employees
to manage tax-advantaged accounts and related investments,
completely transparent financial claims adjudication, multi-channel
access to ConnectYourCare�s acclaimed customer support services,
and comprehensive medical information and decision-support tools
with a focus on wellness. ConnectYourCare is a Revolution Health
Group company. Please visit http://www.ConnectYourCare.com for more
information or call 1-877-495-3341. About UMB UMB Financial
Corporation is a multi-bank holding company headquartered in Kansas
City, Mo., offering complete banking, asset management and related
financial services to both individual and business customers
nationwide. Its banking subsidiaries own and operate 139 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. * Investment Products
Offered Through UMB Financial Services, IncMember NASD, SIPCNot
FDIC Insured -- May Lose Value -- No Bank Guarantee
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