Navigation Links
MasterCard Extends Agreement With OptumHealth
Date:7/6/2009

PURCHASE, N.Y., July 6 /PRNewswire/ -- MasterCard Worldwide today announced a multi-year contract extension with OptumHealth Inc.'s OptumHealth Bank to issue MasterCard cards for health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs), including the accounts they manage for UnitedHealthcare members. The MasterCard cards can be used as a form of payment, tied to these tax-advantaged accounts, for eligible medical expenses, such as copayments, deductibles, prescriptions, vision care and certain over-the-counter items.

"With health care-related expenses continuing to rise, prepaid health care cards provide an efficient, electronic payment solution to replace cumbersome paper-based administration," said Chris McWilton, president, U.S. Markets, MasterCard Worldwide. "MasterCard and OptumHealth Bank have a long-standing partnership that offers providers a convenient and secure way to collect payment for services. Extending this relationship ensures that physicians and OptumHealth customers continue to enjoy the benefits of electronic payment programs that make it easier to pay for health care needs by using a MasterCard card."

The U.S. health care payments industry handles transactions worth approximately $2 trillion each year, according to McKinsey & Co. Accepting HSA, FSA and HRA card payments can help physicians and other health care providers streamline and manage medical payment transactions. A recent MasterCard survey shows physicians cite patient convenience, safety and security for their office, guaranteed payment, and ease of recordkeeping as among the top benefits of payment card acceptance.

"OptumHealth's tax-advantaged health accounts make it easier to plan, save and pay for health care," said Chad Wilkins, chief executive officer, OptumHealth Financial Services, which includes OptumHealth Bank. "Since MasterCard is accepted in so many places, our customers will continue to have an easy and convenient way to pay for qualified medical expenses with their HSA, FSA or HRA funds without extensive paperwork."

OptumHealth Financial Services, a division of OptumHealth Inc., provides tax-advantaged accounts for health care savings and spending, benefits administration services, and integrated electronic claims settlement solutions for health plans, third-party administrators and other payer groups. It includes OptumHealth Bank(SM), Member FDIC.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

About OptumHealth

OptumHealth Inc. helps individuals navigate the health care system, finance their health care needs and achieve their health and well-being goals. The company's personalized health advocacy and engagement programs tap a unique combination of capabilities that encompass care solutions, behavioral solutions, specialty benefits and financial services. Serving nearly 60 million people, OptumHealth is one of the nation's largest health and wellness companies. It is a business unit of UnitedHealth Group (NYSE: UNH). More information about OptumHealth can be found at www.optumhealth.com.

*Health savings accounts are provided by OptumHealth Bank, Inc., Member FDIC.


'/>"/>
SOURCE MasterCard Worldwide
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. SURGEX(TM) Joins the Team of Sponsors for the PGA Tours 2008 Arnold Palmer Invitational Presented by MasterCard
2. Siemens Extends Tender Offer for Acquisition of Dade Behring
3. Global Med Technologies(R) Extends Its Worldwide Outreach
4. Baxa Corporation Extends Global Reach With New Distribution Agreements in Colombia and the Dominican Republic
5. NIH/NCI renews and extends nationwide license for Genomatix software and databases
6. Design Resource Extends Support for Orthopaedic and Cardiovascular Devices
7. Kerry Extends, Improves Small Business Innovation Program
8. amfAR Appoints New Leadership as AIDS Research Organization Extends Its Global Reach
9. Emdeon Business Services Extends Market Leadership With New Dental Eligibility Payers
10. QMed, Inc. Extends Agreement & Receives $550,000 Performance Bonus
11. Roche Extends Tender Offer for Ventana
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2017)... ... May 26, 2017 , ... Rob Lowe acts as ... production of the series is on hiking in American. Viewers can reconnect with America ... great benefits of hiking. , Many consumers have looked for an inventive new place ...
(Date:5/26/2017)... ... ... FAMILY-Our Journey to the Cross”: the personal journey of Bob Massey and his faith in ... authors, Bob and Margaret Massey. Bob Massey is small in stature but big in ... His love for others is apparent in all of his life decisions. , ...
(Date:5/26/2017)... ... ... “Cactus Jack: Against All Odds”: the story of Coach Cactus Jack and the ... is the creation of published author, Walter Hubbard, a retired wildlife and fisheries biologist ... Jane. Walter. Walter and Jane have three adult children and a granddaughter. ...
(Date:5/24/2017)... ... May 24, 2017 , ... In ... choosing the most appropriate instruments for research and understanding the basic principles that ... webinar will focus on innovations in stereo microscopy for brightfield and fluorescence typically ...
(Date:5/24/2017)... ... May 24, 2017 , ... NucleusHealth ™, ... has received U.S. Food and Drug Administration (FDA) 510(k) clearance for ... secure cloud platform for medical image management. At the core is patented streaming ...
Breaking Medicine News(10 mins):
(Date:5/9/2017)... , May 9, 2017 Zimmer Biomet Holdings, ... musculoskeletal healthcare, today announced it has earned a spot ... 2017" list. The Company was ranked among 500 U.S. ... Employers and Healthcare Equipment and Services. The ... on an anonymous, independent survey of over 30,000 employees ...
(Date:5/9/2017)... 2017  Oramed Pharmaceuticals Inc. (NASDAQ: ... company focused on the development of oral drug ... Property Office has granted Oramed a patent titled, ... The patent covers Oramed,s invention of an oral ... an incretin hormone that stimulates the secretion of ...
(Date:5/8/2017)... NEW YORK , May 8, 2017 ... in the transition from fee for service reimbursement. Black ... April 2017. 1.       The Market for ... 77% of physician practices with 3 or ... Compliance Technology Solutions by Q4. "Given the magnitude of ...
Breaking Medicine Technology: