Consumers get on-demand, anytime access to HSA, FSA and HRA account
balances; claims and receipts are next
MINNEAPOLIS, Apr 07, 2011 (BUSINESS WIRE) --
U.S. Bank's Healthcare Payments group, a leading provider of employee
benefit spending programs, launched a mobile application to help its
customers manage their consumer driven healthcare (CDH) accounts - HSAs,
FSAs and HRAs - on the go. The application gives users the flexibility
to check their balances whenever and wherever to help them make smart
healthcare payment decisions. The application is currently available for
Apple and Android mobile devices.
American adoption of CDH plans continues to grow, reaching 22 million
accounts in 2010, according to the Employee Benefit Institute. With the
steady rise in health savings accounts, flexible spending accounts, and
health reimbursement arrangements, consumers need easier ways to monitor
and manage them.
Last year, U.S. Bank introduced a fully integrated account management
suite that gives program participants a clear view into and greater
control over their healthcare spending. The U.S. Bank Healthcare Mobile
app adds to that experience at a time when many consumers increasingly
rely on their mobile phones to access information quickly and easily.
More than 63.2 million Americans had a smartphone at the end of last
year, according to comScore's 2010 Mobile Year in Review.
"Today, it's all about on-demand account access," said Ralph Bernstein,
senior vice president of U.S. Bank's Healthcare Payments group. "Whether
customers are using an iPhone, iPad, iPod Touch or Android device, they
will have instant, real-time access to their account. That's a
tremendous benefit when you're sitting in a doctor's office or a
pharmacy, trying to determine the best way to pay for services."
Later this year, U.S. Bank plans to release an update to its Healthcare
Mobile application that will enable its FSA and HRA participants to
submit claims for reimbursement and send receipts using their mobile
To download the U.S. Bank Healthcare Mobile application, go to www.mycdh.usbank.com
and sign in to your account. The application is also available at the
iTunes Store and the Android Market.
About U.S. Bank Corporate Payment Systems' Healthcare Payments Group
Healthcare Payment Solutions helps patients pay and providers collect.
An outgrowth of U.S. Bank's long-standing commitment to the healthcare
community, the Healthcare Payments group 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 visit www.healthcare.usbank.com.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $308 billion in assets as of Dec. 31,
2010, is the parent company of U.S. Bank, the fifth largest commercial
bank in the United States. The company operates 3,069 banking offices in
25 states and 5,310 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 www.usbank.com.
SOURCE: U.S. Bank
U.S. Bank Media Relations
Teri Charest, 612-303-0732