U.S. Bank's Healthcare Payments group, a leading provider of employee benefit spending programs, launched a mobile application to help its customers manage their consumer driven healthcare (CDH) accounts - HSAs, FSAs and HRAs - on the go. The application gives users the flexibility to check their balances whenever and wherever to help them make smart healthcare payment decisions. The application is currently available for Apple and Android mobile devices.
American adoption of CDH plans continues to grow, reaching 22 million accounts in 2010, according to the Employee Benefit Institute. With the steady rise in health savings accounts, flexible spending accounts, and health reimbursement arrangements, consumers need easier ways to monitor and manage them.
Last year, U.S. Bank introduced a fully integrated account management suite that gives program participants a clear view into and greater control over their healthcare spending. The U.S. Bank Healthcare Mobile app adds to that experience at a time when many consumers increasingly rely on their mobile phones to access information quickly and easily. More than 63.2 million Americans had a smartphone at the end of last year, according to comScore's 2010 Mobile Year in Review.
"Today, it's all about on-demand account access," said Ralph Bernstein, senior vice president of U.S. Bank's Healthcare Payments group. "Whether customers are using an iPhone, iPad, iPod Touch or Android device, they will have instant, real-time access to their account. That's a tremendous benefit when you're sitting in a doctor's office or a pharmacy, trying to determine the best way to pay for services."
Later this year, U.S. Bank plans to release an update to its Healthcare Mobile application that will enable its FSA and HRA participants to submit claims for reimbursement and send receipts using their mobile device's camera.
To download the U.S. Bank Healthcare Mobile application, go to www.mycdh.usbank.com and sign in to your account. The application is also available at the iTunes Store and the Android Market.
About U.S. Bank Corporate Payment Systems' Healthcare Payments Group
Healthcare Payment Solutions helps patients pay and providers collect. An outgrowth of U.S. Bank's long-standing commitment to the healthcare community, the Healthcare Payments group delivers innovations that simplify the receipt and processing of payments, provides new and better ways for patients to meet their financial obligations, and supports the relationship among the participants in the healthcare continuum. For more information about Healthcare Payment Solutions, please visit www.healthcare.usbank.com.
About U.S. Bancorp
U.S. Bancorp USB, with $308 billion in assets as of Dec. 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,069 banking offices in 25 states and 5,310 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
U.S. Bank Media Relations
Teri Charest, 612-303-0732