benefitsCONNECT® and HSA Bank Partner to Simplify Health Savings Account Enrollment

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benefitsCONNECT® announced today that it added HSA Bank as a Health Savings Account (HSA) administrator option in its web-based benefits enrollment and administration system. The partnership allows employees to enroll in an HSA-compatible health plan and HSA with HSA Bank at the same time.

benefitsCONNECT® allows employers to administer their benefits package through a single online portal

benefitsCONNECT® (http://www.benefitsCONNECT.net) announced today that it added HSA Bank as a Health Savings Account (HSA) administrator option in its web-based benefits enrollment and administration system. The partnership allows employees to enroll in an HSA-compatible health plan and HSA with HSA Bank at the same time.

"HSA Bank has maintained a leadership position in the HSA market since 1997 by offering a complete HSA product and exceptional service," said Troy Underwood, president of benefitsCONNECT®. "We believe that HSA Bank's leadership, product, and service combined with the benefitsCONNECT® integrated enrollment technology will give agents and brokers a significant competitive advantage in the marketplace."

benefitsCONNECT® automates and simplifies online benefits enrollment and administration, increasing efficiency through a sophisticated, EDI-enabled Software as a Service (SaaS) platform. In addition, benefits communication tools help employers communicate the value of their benefit offerings and increase overall company satisfaction.

"benefitsCONNECT® allows employers to administer their benefits package through a single online portal," said Itamar Romanini, senior vice president of business development for HSA Bank. "We believe the convenience of the benefitsCONNECT® platform will be useful to many mid-sized employers that currently administer their benefits manually or through multiple systems."

HSAs are a cost-effective solution that can reduce the cost of health care through lower premiums and fewer claims. Individuals can contribute and grow their money in an HSA on a tax-free basis. Plus, the funds withdrawn from the HSA for eligible medical expenses are not taxable and leftover funds can be carried forward into the next year or saved for retirement.

About Transcend Technologies Group:
Transcend Technologies Group, Inc. (dba benefitsCONNECT®) is a privately held company that specializes in Internet-based software applications for the health insurance and benefits industry. Transcend licenses benefitsCONNECT® for online enrollment and benefitsCONNECT® agencyMANAGER for benefits administration. Transcend has established clients in 43 states who entrust their book of business to benefitsCONNECT®. For more information, visit http://www.transcendtechgroup.com/, or contact Ja'Nene Kane at (916) 421-4000 x1019 or jkane (at) benefitsCONNECT.net.

About HSA Bank:
HSA Bank serves customers in every state in the nation and has more than 12 years of experience with healthcare savings accounts. HSA Bank continuously strives to offer the best HSA product in the industry. HSA Bank combines convenience, service, and savings with low account maintenance fees, competitive interest rates, several investment options, 24-hour account access online or through its automated telephone system, and outstanding personal service. HSA Bank is a division of Webster Bank, N.A., member FDIC. Webster Financial Corporation (WBS) is the holding company for Webster Bank. For more information about HSA Bank, visit http://www.hsabank.com/, or contact Patrick Rose at (920) 803-4151 or mediarequests@hsabank.com.

NOTE: Screen shots available upon request.

For editorial information:

Michele Rubin
BackBone, Inc. (for Transcend)
micheler (at) backboneinc.com
860-887-5589
http://www.backboneinc.com/

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Michele Rubin
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