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In the News |
May 30th, 2006
4myBenefits Signs Agreement with First Horizon Msaver to Facilitate Online HSA Enrollment
Leading vendor of online benefits communications to
offer seamless HSA enrollment with high deductible health plans.
Cincinnati, OH, May 30, 2006 : 4myBenefits, Inc. a
leading vendor of online benefits communications services, today
announced it has signed an agreement to rollout a program with First
Horizon Msaver, Inc., one of the nation’s top administrators of Health
Savings Accounts (HSA) offering health care financial services and
solutions to health plans, employers, self-funded employers, banks, and
insurance brokers and consultants throughout the U.S.
Under the terms of the agreement, employees who use the 4myBenefits online enrollment service and select an HSA-qualified high deductible health plan option will be seamlessly transferred to First Horizon Msaver where they can open and initially fund an HSA account.
The Medicare Act of 2003 expanded the health benefits opportunities available to consumers by authorizing the use of HSAs. Contributions made to the HSA are either tax-deductible or pre-tax, if contributed through cafeteria plan. Funds can be used to pay for routine health care such as office visits, prescription drugs, and lab tests. Unused funds can roll over each year providing a savings vehicle for future healthcare costs.
Justin Peter, Vice President of Marketing at 4mybenefits commented, “By partnering with First Horizon Msaver, we have the ability to offer our clients a quality HSA and a fully integrated high deductible enrollment experience. Not only can they enroll electronically in a high deductible health plan, but they can also open their HSA account in the same online session. This eliminates many of the problems and follow-up issues created with the standard two-step enrollment process.”
In a second phase of the program, employers will gain access to a funding portal which simplifies and accelerates the process of depositing employee and/or employer contributions into individual employee First Horizon HSA accounts.
About 4myBenefits
4myBenefits, headquartered in Cincinnati, Ohio, is a leading vendor of
benefits communication services for brokers and their clients. Founded
in 1999, 4myBenefits has been the forerunner in developing a
service-oriented business model that delivers affordable, high-tech HR
communication systems for small and large employers. 4myBenefits is
distributed by a national broker network, helping
them enhance their agency websites and deliver innovative solutions to
their clients.
About First Horizon Msaver, Inc.
First Horizon Msaver, Inc., is a leader in the servicing of Health
Savings Accounts, and is a member of the First Horizon National Corp. (FHN)
family of companies that provides financial services to individuals and
business customers nationwide. With first-to-market technology like
electronic enrollment, Banking Online, Online Bill Pay, investment
options, and a dedicated HSA Customer Care Center, First Horizon Msaver
is helping thousands of Americans get the most out of their tax-favored
HSAs. FHN companies have been recognized as some of the nation’s best
employers by AARP, Working Mother and Fortune magazines. FHN also was
named one of the nation’s 100 best corporate citizens by Business Ethics
magazine. More information can be found at
www.fhnc.com.
Contact: 4myBenefits Janet Green 513-891-6726 First Horizon National Corp. Martin Trussell 913-317-2085