FARMINGTON HILLS, Mich., May 24 /PRNewswire/ -- Anthony Albanese, President and COO of Michigan Heritage Bank and Alfred Posa, Chairman and President of H.E.L.P. (Hospital Expense Loan Program) announced today the formation of MHB-H.E.LP, LLC. This company expects to offer up to $20 million in assistance to uninsured or under-insured patients in payment of costs incurred in their hospital treatments.
This program will be available in 21 states, mostly in the Midwest, Southeast and Southwest, and will service thousands of patients at over one hundred hospitals.
"Often patients who are uninsured or under-insured leave the hospital with thousands of dollars of expense that they have no way of immediately paying. MHB-H.E.LP, LLC will loan the money to qualifying patients and allow affordable payments to be made over the period of time chosen by the patient," stated Albanese.
"Inclusion in this program substantially improves the cash flow and accounting of the participating hospitals and will ease their collection efforts. It also provides a means for patients to meet unexpected healthcare expenses," said Posa.
Michigan Heritage Bank, a wholly owned subsidiary of Michigan Heritage Bancorp. Inc., a Farmington Hills based commercial bank was formed in 1997. It is a publicly traded company with the symbol MHBC.OB
H.E.L.P. Financial Corporation is a Michigan corporation based in Plymouth, Michigan, which has twelve years of experience in the administration of patient financial assistance through hospitals located mostly in the Midwest, Southeast and Southwest.
NOTE: This press release contains "forward-looking statements" within the meaning of the federal securities law regarding proposed developments and operations of the Company. These statements represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes", "anticipates" or "expects" are intended to identify such forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not materially differ from expected results. The Company cautions that these and similar statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements, including regional and national economic conditions, substantial changes in levels of market interest rates, credit and other risks of lending and investment activities and competitive and regulatory factors. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events of circumstances after the date of such statements.
Michigan Heritage BankCONTACT: Theresa George, Vice President of Public Relations of TheMarketing Source, +1-734-464-1122 ext. 21, for Michigan Heritage Bank
