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HealthEquity Partners with State of Utah to Launch Pilot of Utah Health Exchange
Date:1/27/2010

Healthcare Financial Services Leader Provides Payment Platform for Utah’s Answer to Health Care Reform

Salt Lake City, UT (Vocus) January 27, 2010 -- HealthEquity, a leader in healthcare financial services, has been selected by the State of Utah to provide payment-processing solutions and HSA administration for the Utah Health Exchange, an Internet portal that is the cornerstone of Utah’s approach to Health Care Reform. The Utah Health Exchange is the result of state legislation passed into law that mandated the creation of a health insurance "marketplace" that connects consumers to a single shopping point where they can evaluate insurance options in a standardized format and make informed health plan purchasing decisions. The Utah-type of Health Exchange is anticipated to be a part of any federal health reform legislation that may be passed in the near future.

As part of their approach to Health Care Reform, the State of Utah in conjunction with selected firms within the private sector has developed and launched the web-based Utah Health Exchange. More than a dozen companies and over 500 members are currently enrolled in the pilot-phase of the Exchange which has these core functions: 1) provide consumers with transparent information about their health care options, 2) provide a mechanism for consumers to compare and choose a health insurance policy that meets their needs, 3) provide a standardized electronic application and enrollment system and, 4) provide guaranteed-issue, tax-deductible insurance choices for small businesses. Additional employer groups will be able to register in the spring and summer of 2010, following the limited launch.

HealthEquity’s role within the Exchange is as the banking solutions provider, which include
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