Elan To Process Cards For HealthEquity's Health Savings Accounts

TUCSON, Ariz., Nov. 5 /PRNewswire/ -- HealthEquity, Inc., a leading Health Savings Account (HSA) administrator, has selected Elan Financial Services for Health Savings Account card processing. The partnership between HealthEquity and Elan leverages the capabilities of Elan as a processor for this growing and important service.

Elan Financial Services will provide card authorization processing and routing for point-of-service transactions as well as all the necessary system monitoring and support services. The HealthEquity Health Savings Account card is used at healthcare locations that accept Visa(R) cards. HealthEquity members can use their cards to pay doctors, dentists and pharmacies directly from their Health Savings Accounts. Elan will process the Health Savings cards with technology that they originally developed in 1997 to support Medical Savings Accounts, the precursor to Health Savings Accounts.

"We are pleased to be the inaugural health savings account card client of Elan," said Dennis Stover, Senior Vice President -- Corporate Development, HealthEquity. "They offer a complete card product and support services that were specifically designed for the HSA. Other card products being offered in the market include expensive substantiation engines designed for Flexible Spending Accounts and/or Health Reimbursement Arrangements that have no applicability to the HSA."

"We are very excited about our relationship with HealthEquity and look forward to supporting their Health Savings Account members" says Jan Estep, Executive Vice President for Elan Financial Services. "We are able to leverage our extensive debit card authorization and processing capabilities and utilize the HSA expertise of our client. We look forward to providing HealthEquity with the innovation and service for which our products and services are known."

HealthEquity makes HSAs easy to use by providing a complete product line of administrative services for individuals and employers. HealthEquity establishes partnerships with health plans, third party administrators and banks to provide an integrated Health Savings Account service to its members. Its state-of-the-art systems provide member education, personal advocacy, custom web services, and direct payment to network providers. HealthEquity has an extensive insurance broker education and support program. For more information, visit the HealthEquity website at http://www.healthequity.com/ or call 520.547.3000.

Elan Financial Services, as part of U.S. Bancorp , supports more than 7,800 ATMs, 15 million ATM/POS cards, and 2 million credit cardholders with a complete range of products and services including credit card issuing, ATM, debit card, and merchant processing. Elan offers a full range of ATM services to financial institutions and, independent sales organizations including authorization processing, terminal driving and switching services. These are conducted through a wide array of network options with all the necessary card management and support functions creating an easy to manage card program for financial institutions. Elan also provides membership in the Fastbank ATM network, which includes deposit-sharing ATM locations Fastbank Free, the surcharge-free option available in 24 states. The more than 2,500 clients of Elan enjoy full-service support and management tools, which are secured with a unique Service Guarantee. For more information call 1-800-343-7064 or visit elanfinancialservices.com.

HealthEquity, Inc.

CONTACT: HealthEquity, +1-520-547-3000; or Elan Financial Services,+1-800-343-7064

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