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JOINT VENTURE ANNOUNCED |
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J. Smith Lanier Administrators On November 10, 2004 JSLA entered into a joint venture agreement for the administration of HSA’s and HRA’s with Exante Financial Services, a division of United Health. Exante Financial Services (Exante Bank/United Health) will be added to our Vendor Partners listing. Exante Bank is the only bank dedicated to the Health Care Industry. Effectively, any HSA and HRA account will be administered by Exante Bank with JSLA retaining the administration of claims above the deductible. Exante will guarantee a 4% return on employee monies in the first year for an HSA with no balance requirements and will provide a MasterCard and convenience checks to the employees who opt for the HSA or HRA option. Exante Bank will also provide all sales materials. The administration will be seamless to the employer and employees, but we will list Exante as a vendor partner in our proposals, instead of trying to brand the product to JSLA. All system interfaces between JSLA and United Health will be in place by January 1, 2005. In addition to the HSA/HRA we will also move toward an Electronic Medical ID card with electronic provider payments with Exante. At the present time, Exante Bank is administering over 500,000 tax-advantaged accounts. |
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