UMBF UMB Financial Corporation

UMB Bank and Motivano Launch Health Savings Account (HSA) Prepaid Card Solution NEW YORK, Sept. 8 /PRNewswire/ -- Motivano, the leading provider of electronic FSA, HRA, HSA, dependent care and mass transportation and parking prepaid card accounts, is pleased to announce the availability of a turnkey HSA solution that capitalizes on UMB Bank's custodial expertise. UMB has been involved in the flexible spending card space since 1996 and is an emerging leader in healthcare card solutions. "For healthcare consumers, the prepaid card is quickly becoming a critical part of HSA functionality. Without the card, it's a paper-driven process. Our SmartFlex card relieves the administrative burden that healthcare providers and third party administrators face," says Mark Keck, Motivano's Executive Vice President. Some of the benefits of using Motivano's SmartFlex(R) prepaid card for HSA accounts include: -- Multiple account access on the same card including HSA, HRA, FSA, dependent care and mass transportation and parking accounts. -- Ability to differentiate claims that require substantiation based on separate Merchant Category Codes or the hierarchy established on the card. -- Fully integrated adjudication system for HRAs and FSAs. -- Management of all transactions including funding of individual accounts and auditing accounts that are established in Motivano's SureTrak(TM) electronic tracking and substantiation system. -- Access to all funds held in a money market account as well as those invested in mutual funds. "The ability to have a `multi-purpose' card that can separate HSA, HRA, and FSA funds is essential in the growing prepaid card industry. We are excited about the opportunity and functionality that Motivano's SmartFlex program brings to this market," says Dennis Triplett, UMB's Executive Vice President of Lending Services. HSA Overview -- HSA accounts encourage individuals to save for future medical expenses. -- Accounts are owned by the individual; not the employer. -- Accounts are completely portable. -- No "use it or lose it rules." -- Accounts grow through investment earnings, similar to IRA. Eligible individuals must satisfy all four of the following conditions: -- The individual is covered under a qualifying high deductible health plan ("HDHP"); -- The individual has no other non-HDHP coverage that provides benefits other than "permitted coverage," "permitted insurance" and/or "preventive care"; -- The individual cannot be claimed as a dependent under someone else's tax return; and -- The individual is not "entitled" to Medicare. Motivano Founded in 1999, Motivano is the leading provider of electronic FSA, HRA, HSA, dependent care and mass transportation and parking prepaid card accounts as well as employee incentive and recognition programs. Over two million employees at over 1,000 corporate and government clients benefit from Motivano's unique electronic benefits solutions. More than 100 partners distribute Motivano's products and services. Visit http://www.motivano.com/ or call 1-866-636-8700. UMB Bank, n.a. UMB Financial Corporation (NASDAQ:UMBF) is a $6.9 billion holding company headquartered in Kansas City, Mo. The company offers banking and related financial services to individual and business customers. It owns and operates 153 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma and Nebraska. Visit http://www.umb.com/ for more information. DATASOURCE: Motivano CONTACT: Kathleen Snyder, Motivano, +1-646-435-5668, or +1-646-435-5637, Web site: http://www.umb.com/ Web site: http://www.smartflex.com/ Web site: http://www.motivano.com/

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