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SUNTRUST PARTNERS WITH CONNECTYOURCARE TO OFFER HEALTH SAVINGS ACCOUNTS
One of the nation’s largest banks will deliver Consumer-Directed healthcare solutions to employers looking to take control of their healthcare costs
(Hunt Valley, MD) (December 17, 2008) - ConnectYourCare, a leading provider of Consumer-Directed Healthcare (CDH) account management solutions, announced that it has partnered with SunTrust, one of the nation’s largest banks, to deploy a turn-key solution for administering Health Savings Accounts (HSAs).
SunTrust’s selection was based on ConnectYourCare’s commitment to providing stewardship while delivering best-in-class technology solutions, superior consumer healthcare tools and outstanding customer service. The solution will re-brand ConnectYourCare’s top-ranked CDH platform that includes: financial claims adjudication, a healthcare payment card, integrated account management, and a single sign-on portal for access to healthcare account management, online healthcare tools, and HSA investment options.
“SunTrust’s movement into the Consumer-Directed Healthcare marketplace reinforces the growing need to provide employers with solutions that empower individuals and help control healthcare costs,” said Marc Palmer, Chief Executive Officer at ConnectYourCare. “We are pleased to provide SunTrust with an industry-leading solution that allows seamless market entry and access to ongoing innovation.”
This partnership will give SunTrust access to ConnectYourCare’s suite of online administrative tools and services including:
- CDH Express: Small group employers can quickly and easily set themselves up online and upload employee data for a variety of account combinations.
- Real-time Employer Transparency and Control Tools: Employers can manage their employee and account data through access to the Employer Dashboard, an online management tool that enables employers to administer employee information changes or additions, such as employment status, demographic information, direct deposit, payroll deductions, etc. Employers also have access to a variety of reports to help monitor account activity related to claims, as well as treasury-related money movement controls.
- Participant Health Education and Empowerment Tools: ConnectYourCare provides a suite of online health-related tools such as hospital and drug comparisons, wellness and exercise guides, and medical research.
- Healthcare Payment Card: SunTrust will offer ConnectYourCare’s healthcare payment card to facilitate a consumer-friendly process for expense reimbursement.
- Banking and Investment Platform: The SunTrust Solution includes competitive HSA investment options so account holders can choose how to invest the funds. Account holders will have access to HSA investments through a single sign-on portal, where they can view and select investment choices that include an FDIC insured deposit account and several mutual funds.
About ConnectYourCare
ConnectYourCare’s consumer-directed healthcare (CDH) benefit delivery platform provides a pathway for migration to account-based health plans, supplying tools for consumers to better manage their healthcare dollars. ConnectYourCare’s core strategy is based upon providing stewardship to its customers by helping them simplify complex health benefit concepts, motivate individuals to act, and execute a successful solution, resulting in long-term health benefit cost containment. Please visit ConnectYourCare.com for more information or call 1-877-495-3341.
ConnectYourCare Contact
Jamie Spriggs
410-891-1005
jamie.spriggs@connectyourcare.com