LaSalle, ConnectYourCare to offer full-service solution to Administer Flexible Spending Accounts, Health Reimbursement Arrangements, and Health Savings Accounts.
LaSalle Healthcare Administrative Services LLC ("LaSalle"), an operating company of LaSalle Bank, is launching the LaSalle CDH Solutions, an integrated consumer-directed healthcare (CDH) platform for administering health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). Partnering with ConnectYourCare, a Revolution Health Group company, LaSalle will offer a full-service, customizable platform to employers, health plans and third-party administrators to administer consumer-directed healthcare accounts.
The LaSalle CDH Solution includes financial claims adjudication, a multi-purse healthcare account payment card, integrated account management, investment options and a single sign-on portal for access to healthcare account management and tools.
"Managing healthcare costs is a growing challenge for employers and employees," said Cindy Murray, executive vice president, Transaction Banking, LaSalle Bank. "LaSalle is pleased to be in a position to offer a comprehensive solution to address this dynamic business need."
LaSalle will offer a comprehensive CDH account administration platform for its commercial customers and business partners using ConnectYourCare’s suite of online administrative tools. Features of the LaSalle CDH solution include:
CDH Management: For employers, the platform provides a defined contribution CDH program, so employers can move their benefits focus in healthcare to wellness and wealth management (by offering HSAs), while gaining control over costs.
Education and Empowerment Tools: The LaSalle CDH Solution provides online tools such as flash demos and savings calculators that help drive CDH adoption. In addition, ConnectYourCare offers a suite of wellness tools such as health risk assessments, medical research and provider comparisons.
Multi-purse Health Payment Card: Employees can use a single payment card issued by LaSalle Bank to access their healthcare accounts (FSAs, HRAs, and HSAs). The transaction amount is automatically deducted from the appropriate healthcare account based upon their employer’s plan design, enrollment choices, employee preferences and the expense type.
The "CDH Financial Engine": Insurance carriers and third-party administrators can utilize the LaSalle CDH Solution, as a plug-in to their CDH plan offerings, enabling the integration of claims and accounts.
Investment Options: The LaSalle CDH Solution includes investment options for HSAs so employees can choose how to invest the funds in their health savings account.
"LaSalle recognizes that speed-to-market and effective customer acquisition, servicing and asset management can make all the difference in the expanding HSA marketplace, and ConnectYourCare’s platform and expertise can help LaSalle provide crucial healthcare administrative services to its customers," said Terry Hunter, CEO of ConnectYourCare.
LaSalle Healthcare Administrative Services LLC is an operating subsidiary established by LaSalle Bank N.A. to provide consumer directed healthcare account administrative products and services to the Bank's commercial customers.
LaSalle Bank N.A. is the largest bank headquartered in Chicago with $75.2 billion in assets and $45.2 billion in deposits. LaSalle Bank serves individuals, small businesses, middle-market companies and institutions through 136 retail locations, 500 ATMs, and on-line at lasallebank.com throughout Chicago and the neighboring suburbs.
LaSalle Bank operates in 23 states and maintains commercial banking offices in 19 cities across the U.S. and offers specialty services through its direct and indirect subsidiaries, LaSalle Financial Services, Inc., LaSalle National Leasing Corporation, and LaSalle Business Credit, LLC.
Parent company LaSalle Bank Corporation is headquartered in Chicago with $116 billion in assets and is an indirect subsidiary of Netherlands-based ABN AMRO Bank N.V., one of the world’s largest banks with total assets of EUR 975.1 billion, more than 3,000 locations in over 60 countries and staff of more than 105,000 full-time employees.
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 portal for employees to manage tax-advantaged accounts and relevant investments, financial claims adjudication and customer support services, and comprehensive medical information and decision-support tools with a focus on health and wellness. ConnectYourCare sells to midsize and large employers and markets a co-branded ASP solution to health plans, TPAs, banks and investment firms. ConnectYourCare is a Revolution Health Group company. For more information visit, www.connectyourcare.com.
LaSalle Contact:
Lauren Vidovich
312/904-8006
ConnectYourCare Contact:
Holly Smith
410/891-1023
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.
