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HEALTHCARE COMPARE CORP. AND EMPLOYEE BENEFIT PLANS, INC. ANNOUNCE STRATEGIC ALLIANCE

 HEALTHCARE COMPARE CORP. AND EMPLOYEE BENEFIT PLANS, INC.
 ANNOUNCE STRATEGIC ALLIANCE
 DOWNERS GROVE, Ill./MINNEAPOLIS, Oct. 27 /PRNewswire/ -- James C. Smith, president and chief executive officer of HealthCare COMPARE Corp. (NASDAQ: HCCC) and William E. Sagan, president, chief executive officer and chairman of Employee Benefit Plans, Inc. (NYSE: EBP) announced today an agreement to jointly market HealthCare Compare's preferred provider networks to EBP clients on a national basis.
 Smith noted that he was extremely pleased with the signing of the agreement since EBP represents over 2,800 employers with approximately 650,000 covered employees nationally, and will process over $2 billion in claims in 1992. Additionally, Smith stated the agreement is of strategic importance to COMPARE and EBP, since it will allow COMPARE additional negotiating leverage with health care providers due to EBP's sizable national client base.
 Sagan said, "EBP's strategic alliance with COMPARE will provide significant sales opportunities as a result of COMPARE's extensive national PPO network and competitive provider pricing contracts, and will further enhance the managed health care products and services we offer our clients."
 HealthCare COMPARE Corp. is America's leading independent provider of medical cost management services and offers the most comprehensive managed care programs available. COMPARE provides utilization management (COMPARE Medical Review Programs), computer-assisted bill review and pricing services (OUCH Systems) and negotiation of fixed price contracts with medical providers to develop and maintain preferred provider networks (The AFFORDABLE Medical Networks) for the exclusive use of their clients.
 EBP, headquartered in Minneapolis, is a leader in providing administrative services, benefit design and consulting, stop-loss insurance and managed care programs to companies throughout the United States who self-fund their employee benefit programs.
 -0- 10/27/92
 /CONTACT: William E. Sagan, president and CEO, or Sharon L. Koenig, investor relations, 612-546-4353, both of Employee Benefit Plans; or James C. Smith, president and CEO, or Joseph E. Whitters, chief financial officer, both of HealthCare COMPARE Corp., 708-241-7900/
 (EBP HCCC) CO: Employee Benefit Plans, Inc.; HealthCare COMPARE Corp. ST: Minnesota; Illinois IN: INS SU: JVN


KH -- MN002 -- 5188 10/27/92 08:45 EST
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Publication:PR Newswire
Date:Oct 27, 1992
Words:345
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