BlueCross BlueShield of South Carolina Selects MyHealthBank Software For Strategic Initiative to Roll Out Consumer Health Plan.Business Editors & Health/Medical Writers COLUMBIA, S.C. & PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 6, 2002 BlueCross BlueShield of South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. today announced it has licensed MyHealthBank's Health Freedom System(TM) to support its business strategy to offer the first consumer health plan in South Carolina. BlueCross has developed Blue-by-Design(sm), a high-deductible major medical preferred provider organization pre·ferred provider organization n. Abbr. PPO A medical insurance plan in which members receive more coverage if they choose health care providers approved by or affiliated with the plan. plan combined with an employer-funded health savings account A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. , powered by MyHealthBank's Health Freedom System. The product will be available in January 2003 to South Carolina and national employers with 50 or more employees. MyHealthBank's Health Freedom System, a health financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. system designed specifically for health insurers, will allow BlueCross to administer cash accounts, including rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover. health reimbursement accounts  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. based on Internal Revenue Service Section 105, in a seamless fashion with its insured products. Blue-by-Design was developed to help employers control rising health care costs and provide choice to employees. BlueCross selected MyHealthBank because they have the most complete solution of software and expertise to meet the business goal of introducing a consumer health plan option to the market. "MyHealthBank brings the market experience, technology and services that enable us to achieve our business objective," said Don Nystrom, senior vice president of Major Group, BlueCross BlueShield of South Carolina. "Because of the increasing trend in health care costs, we wanted to introduce an option that helps employers control the cost of the benefits they offer and also empower employees by giving them more control over health care decisions." "We are pleased to have been selected by BlueCross BlueShield of South Carolina to support their consumer health plan strategy," said Steve Sterba, MyHealthBank's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "With the licensing of our Health Freedom System, BlueCross has taken a leadership position in consumer-directed health care." Under the terms of the multi-year agreement, MyHealthBank will implement the Health Freedom System and deliver training, consulting and support to the BlueCross marketing, product management, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , customer service and information system departments. About BlueCross BlueShield of South Carolina BlueCross BlueShield of South Carolina (www.SouthCarolinaBlues.com) is an independent licensee of the Blue Cross and Blue Shield Association
About MyHealthBank MyHealthBank's vision is to lead the revolution to a consumer-driven health care economy. As the pioneer and specialist in consumer-driven software systems, the company offers the expertise to enable insurers to implement consumer health plans rapidly and cost-effectively, within their existing brand and infrastructure, to the benefit of all stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. in the health care system. MyHealthBank's products are based on the pillars of consumer-driven health care: comprehensive, seamless self-service; integrated insurance and financial services; and competitive provider marketplaces that share quality and cost information. MyHealthBank is focused exclusively on developing and delivering software systems for health insurers. For more information, please contact 503/445-6000, visit www.myhealthbank.com, or email info@myhealthbank.com. |
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