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U.S. Bank Rolls Out Comprehensive Consumer-Directed Healthcare Solutions
Simplifies Program Management for Employers and Reduces Complexity for Consumers

MINNEAPOLIS, May 12, 2010 (BUSINESS WIRE) --U.S. Bank Healthcare Payment Solutions is expanding its consumer product suite beyond health savings accounts (HSAs) with a comprehensive set of services designed to make consumer-directed healthcare (CDHC) easier to manage. U.S. Bank's new integrated set of card-based payment solutions enables employers to offer competitive benefits plans, with tax savings to employees, while managing costs.

U.S. Bank is complementing its HSA offering with the addition of multi-purse cards attached to flexible spending accounts (FSAs), limited purpose flexible spending accounts (LPFSAs), and health reimbursement arrangements (HRAs), as well as accounts for dependent care reimbursement and parking/transit. By managing all of these tax-advantaged accounts together, employers reduce time and expense and simplify healthcare-benefits management for employees.

"Employers are simply unable to continue absorbing double-digit increases in health insurance premium costs," said Ralph Bernstein, senior vice president of Healthcare Payment Solutions at U.S. Bank. "By offering consumer-directed health plans and the tax advantaged accounts that go along with them, employers can lower health benefit costs through related tax breaks and cost-sharing with employees. U.S. Bank continues to show its commitment to consumer-directed healthcare with a dedicated healthcare division offering a complete and integrated set of consumer-directed benefit payment solutions."

U.S. Bank's new offering makes it easier for consumers to manage their healthcare accounts with two important, user-friendly features: a single payments card and a single Web portal for online account management. Consumers present one benefits card for payment, and the funds are withdrawn automatically and seamlessly from the proper account based on advanced card technology and program design. In addition, the online account management system allows consumers to check balances and activity for all their various U.S. Bank healthcare accounts through one convenient log in.

"Consumers see the healthcare payment process as unnecessarily complex," Bernstein said. "We're giving them a full array of tools to manage these types of accounts and make informed decisions about how they spend their healthcare dollars."

The underlying technology platform, including that of the employer and consumer web portal, is provided by new partner, Lighthouse 1. Lighthouse1 and its partners serve more than 2.5 million consumers, making Lighthouse1 the nation's largest web-based healthcare solution. It is the only solution available today that simplifies the user experience, and satisfies workflow management needs of administration partners, employers, and consumers.

About U.S. Bank Healthcare Payment Solutions

Healthcare Payment Solutions helps patients pay and providers collect. An outgrowth of U.S. Bank's long-standing commitment to the healthcare community, Healthcare Payment Solutions delivers innovations that simplify the receipt and processing of payments, provides new and better ways for patients to meet their financial obligations, and supports the relationship among the participants in the healthcare continuum. For more information about Healthcare Payment Solutions, please contact usbankhealthcare@usbank.com or call 866-285-0933.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB), with $282 billion in assets as of March 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,025 banking offices in 24 states and 5,312 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.

SOURCE: U.S. Bank

U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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