U.S. Bank Adds Multi-Purpose Health Payment Cards

May 12, 2010 (PLANSPONSOR.com) – U.S. Bank Healthcare Payment Solutions is now offering multi-purse payment cards attached to a variety of tax-advantaged spending accounts.

A news release said the cards are 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.

U.S. Bank’s new offering makes it easier for consumers to manage their health care accounts with a single payments card and a single Web portal for online account management, according to the announcement.

Consumers present one benefits card for payment, and the funds are withdrawn from the proper account based on advanced card technology and program design.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 health care accounts through one login, the announcement said.

”Consumers see the health care payment process as unnecessarily complex,” said Ralph Bernstein, senior vice president of Healthcare Payment Solutions at U.S. Bank, in the announcement. “We’re giving them a full array of tools to manage these types of accounts and make informed decisions about how they spend their health care dollars.”

For more information about Healthcare Payment Solutions, contact usbankhealthcare@usbank.com or call 866-285-0933.