TSYS Launches the Industry's Most Advanced Healthcare Benefits Payments System
FBMC, the Nation’s Premier Benefits Company, is First to Market
Minneapolis, Minn., March 3, 2008 — TSYS Healthcare today announced the successful market launch of the industry’s most advanced benefits payments system. Fringe Benefits Management Company (FBMC), the first third-party administrator to use this innovative solution, offers its subscribers the ability to pay from multiple healthcare tax-advantaged accounts, credit accounts and cash accounts through a single card.
FBMC and TSYS Healthcare signed an agreement in September 2007, and the implementation to TSYS’ new healthcare system was successfully completed in only four months.
“We are very impressed with the flexibility and functionality of the new TSYS Healthcare platform,” said Barbara Gonzales, chief operating officer of FBMC. “We have some fairly complex plan designs requiring multi-purse logic and payment hierarchy decisions. We were able to quickly implement them all with the TSYS solution and our cards were IIAS compliant on day one without a hitch."
“Working with FBMC to achieve this first-to-market position is a testament to its stature and influence in the marketplace,” said Duane White, president of TSYS Healthcare. “We believe this is only the beginning of the impact we can make in the healthcare payments arena, and that the speed and success with which we were able to implement FBMC are signs of our commitment to becoming a major player in this industry.”
The success of this partner enabled solution will be the focus of an executive panel discussion at the 2008 CDHC Expo and Conference. Duane White, president of TSYS Healthcare; Kendall Hall, Head of Card Services and Development for FBMC; and Craig Keohan, president of First Horizon Msaver will share their perspectives on the challenges in the healthcare payments environment, the benefits of this new approach and the multiple efficiencies captured through this state-of-the-art solution.
The CDHC Expo will be held at the Rio All-Suite Hotel and Casino in Las Vegas on March 3-5, 2008. For more information, visit www.cdhcexpo.com.
About FBMC
Fringe Benefits Management Company (www.fbmc-benefits.com), based in Tallahassee, Fl., is the nation’s premier benefits company, specializing in Tax-Favored Accounts including Flexible Spending Accounts (FSA), Health Reimbursement Accounts (HRA), Health Savings Accounts (HSA), and Qualified Transportation Benefits (QTB). FBMC also provides self-funded benefits, COBRA and 401(k) administration services. Celebrating its 32nd year in total benefits administration, FBMC is an industry leader in benefit plan designs and enrollment.
About First Horizon Msaver
First Horizon Msaver Inc. is a leader in the servicing of Health Savings Accounts and is a member of the First Horizon National Corp. (NYSE: FHN) family of companies that provides financial services to business customers and individuals nationwide. With first-to-market technology like electronic enrollment, banking online, online bill pay, investment options and a dedicated HSA customer care center, First Horizon Msaver is helping thousands of Americans get the most out of their tax-favored HSAs.
First Horizon has been recognized as one of the nation’s best employers by AARP, Working Mother and Fortune magazines. First Horizon also was named one of the nation’s 100 best corporate citizens by CRO magazine. More information can be found at www.FirstHorizonMsaver.com.
About TSYS Healthcare
TSYS Healthcare, based in Minneapolis, Minn., was created as a division of TSYS in 2007 to provide end-to-end solutions tailored to the emerging market of consumer-directed healthcare. TSYS Healthcare is a founding member of the Special Interest Group for IIAS Standards (SIGIS), formed in 2007 to enable real-time, auto-substantiation for eligible medical items purchased with a FSA/HRA payment card. The division provides financial institutions, insurers, participants and third-party administrators (TPAs) with the expertise and support to navigate all aspects of health savings accounts (HSAs), health reimbursement accounts (HRAs), flexible spending accounts (FSAs) and lines of credit. Its new processing model enables consumers to use a single card to access their healthcare dollars.
About TSYS
TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information, contact news@tsys.com or log on to www.tsys.com.
Contacts
Cyle Mims
TSYS Media Relations
+1.706.644.3110
cylemims@tsys.com
Shawn Roberts
TSYS Investor Relations
+1.706.644.6081
shawnroberts@tsys.com