Empire Blue Cross Blue Shield to Offer New Healthcare Payment Solution from American Express
New American Express HealthPay PlusSM Solution Complements Empire Total Blue product by providing Card access to HSA funds, optional credit line
New York, NY (November 30, 2005) – Empire Blue Cross Blue Shield will offer the new American Express HealthPay PlusSM healthcare payment solution in conjunction with the Empire Total Blue consumer directed healthcare product, enabling integrated claims processing and easier access to health savings account (HSA) funds.
The Empire Total Blue product is a high-deductible health plan that qualifies members to open an integrated HSA, which is typically funded through pre-tax payroll deductions and often with contributions from the employer. The American Express HealthPay Plus HSA from American Express Bank, FSB, may be accessed by Empire Total Blue members with the new American Express healthcare payment card. Members will be able to swipe their card at participating providers’ offices after receiving qualified services, and leave the rest of the payment and claims adjudication process to Empire and American Express.
“Empire Total Blue has been a very successful addition to our product portfolio, meeting the needs of large and small employers alike,” said Jason Gorevic, chief sales and marketing officer of Empire. “The addition of the American Express HealthPay Plus Card brings an innovative new dimension to this market leading product.”
Empire Total Blue gives consumers the tools and resources to help manage their healthcare decisions and finances more effectively than traditional managed healthcare plans. Eligible Empire Total Blue members who apply and are approved for the optional HealthPay Plus credit line can use funds from it to pay deductibles and other expenses before the HSA is fully funded or to help cover costs that may exceed the balance in their HSA. Members can also choose to pay with funds from their credit line and save their HSA funds for future medical expenses. Healthcare providers will benefit from this funding approach, which will substantially reduce the burden borne by physicians and hospitals of collecting funds from consumers when there is member responsibility for deductible or co-insurance.
“Employers who offer HSAs to their workforce will find that the American Express HealthPay Plus makes Empire Total Blue an even more attractive choice for employees,” Gorevic said. “The new American Express card will enable Empire Total Blue members to more easily manage their annual deductible, and save for future medical expenses at the same time.”
The American Express HealthPay Plus HSA is a product of American Express Bank, FSB, Member FDIC. Employees will own and control the funds in their HSAs and may use the funds, and the HealthPay Plus Card, only for medical needs, including prescription drugs, medical office visits, deductibles, co-insurance payments and other qualified expenses.
Empire and American Express plan to offer the healthcare payment solution to corporations beginning in early 2006.
Empire Blue Cross Blue Shield is the largest health insurer in New York State, based on PPO and HMO membership. Empire HealthChoice Assurance, Inc., d/b/a/ Empire Blue Cross Blue Shield, and Empire HealthChoice HMO, Inc., d/b/a Empire Blue Cross Blue Shield HMO, are licensees of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield plans, and have the exclusive right to use the Blue Cross and Blue Shield names and marks throughout 10 downstate New York counties and one or both of these names and marks in select upstate counties. For more information visit www.empireblue.com.