Baltimore, MD (PRWEB) December 23, 2004
ConnectedCare, the revolutionary solution for managing consumer-directed healthcare savings plans, announces that Gary Baker has joined the company as CFO. Formerly CFO of United HealthcareÂs 7 state, $2.5 billion Southeast Region, Mr. Baker returns to Baltimore where he began his professional career 28 years earlier. ÂIÂm delighted to be back in Baltimore and to have found such an amazing opportunity in ConnectedCare. HereÂs a company whose founders had a vision of where the Consumer-Directed Healthcare market was headed and set out over two years ago to engineer a solution for transitioning employers from traditional healthcare plans to todayÂs high-deductible plans with healthcare savings accounts. As soon as I met them I was convinced they had somehow looked into the proverbial crystal ball and saw the future and built a solution for employers and their employees, independent of what carriers are now beginning to offer.
By making their solution for integrating and managing healthcare savings accounts - - Flexible Spending Accounts (FSAs), Healthcare Reimbursement Accounts (HRAs) and Health Savings Accounts (HSAs) Â carrier independent, theyÂve solved one of an employerÂs largest potential issues: what happens to the savings accounts, debit cards and account management processes and the healthcare education tools when a company changes from one health insurance carrier to another? Using the ConnectedCare platform, nothing! The savings account administration and healthcare tools sit on top of the health care plan or plans rather than being bundled or co-mingled, so when an employer changes carriers the administrative platform remains in place. And if an employer has several plans from different carriers, no problem; the same account management platform and toolset can be used for all plans, and the system knows the different plan design rules and manages these in the background.
ÂConsumer-Directed Healthcare Plans (CDHPs) represent the future of healthcare insuranceÂ said Mr. Baker, when commenting about his decision to join ConnectedCare. ÂHealthcare expenses are spiraling out of control with no end in sight and will not be contained until employees are given greater control and accountability for managing their healthcare choices and spending decisions. AmericaÂs healthcare system is a mixture of free market, government intervention and regulated polices and practices that have evolved over the past 50 years. It needs to change and I believe CDHPs are the only sustainable solution to AmericaÂs healthcare crisis. ConnectedCare has the best platform available to help employers make this transition.Â
Before joining United Healthcare, Mr. Baker was with Blue Cross & Blue Shield of Maryland (now CareFirst BC & BS) for 9 years, the last 7 as Corporate Controller, where he had responsibility for accounting operations, financial systems, internal controls, tax compliance and planning, and financial reporting to all internal and external constituencies. While there he was instrumental in the acquisition of CareFirst and the re-capitalization of BC & BS of MD. Prior to CareFirst, Mr. Baker was with Ernst & Young for 12 years where he focused on the healthcare insurance industry. He has a BA from Loyola College, Baltimore, MD and both CPA and CMA certifications.
Mr. Baker joins CEO Terry Hunter who joined ConnectedCare in October 2003 from Cap Gemini where he ran their North American IT Services business, and founder Jamie Spriggs, President and Chief Operating Officer, in their mission to help employers transition to Consumer Directed Healthcare. Mr. Spriggs previously was a co-founder, Executive Vice President and Chief Information Officer for RewardsPlus, a leading benefits technology platform provider. ÂWe are very excited to have someone with GaryÂs credentials and healthcare industry experience join the company,Â said Mr. Hunter. ÂGaryÂs track record in managing highly profitable, well run companies should give confidence to our clients and investors. GaryÂs decision to join ConnectedCare is an affirmation of the companyÂs direction, business model and established momentum. ConnectedCare has aggressive growth goals and, as early indicators suggest, we will need GaryÂs leadership in establishing the organizational and fi!
nancial controls necessary to meet our objectives.Â
ConnectedCare was conceived, engineered and built specifically to be the leading carrier-independent administrative portal for managing healthcare savings accounts, the foundation for consumer-directed healthcare plans. ConnectedCare provides employers with an outsourced benefits administration platform to control healthcare benefits costs while increasing employee awareness and responsibility for managing healthcare spending. Headquartered in Baltimore, Maryland, ConnectedCare is dedicated to helping organizations reduce their healthcare costs through consumerism and education. ConnectedCare provides the advice and tools necessary to transition an organizationÂs existing health insurance plans to a Consumer-Directed Healthcare Plan (CDHP) model. For more information, visit http://www.ConnectedCare.com or call 877-495-3341.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.
# # #