Printing for Systems to Showcase New Insurance Eligibility and Payment Cards at Health Care Congress
Monday May 3, 9:17 am ET

With growing consumer concern about privacy, security and rising healthcare costs, Printing for Systems, Inc. (PSI), a Metavante company, announces the availability of two new healthcare transaction processing solutions: healthcare eligibility cards and healthcare payment cards. PSI will feature these new products at the 16th Annual National Managed Health Care Congress, May 5 to 7, 2004, Booth #143, at the Washington D.C. Convention Center.

The magnetic-striped PSI healthcare eligibility card provides a secure way for healthcare providers to quickly obtain up-to-date insurance eligibility and co-payment information. Eligibility information with the proper co-payment amounts enables health providers to correctly invoice patients, speeding up payment processing and receipt.

Eligibility cards also effectively eliminate costly manual processes such as photocopying traditional insurance cards and calling providers to verify patient eligibility status. Replacing traditional ID insurance cards with mag-striped plastic cards also decreases the possibility of identity theft if the card is lost or stolen because personal data does not need be printed on the card. Facing a current movement to remove social security numbers from healthcare ID cards, some insurers are opting to replace traditional cards with eligibility cards.

Healthcare payment cards, which consumers use like a debit card, can be used to access their flexible spending accounts (FSA), healthcare spending accounts (HSA), and health reimbursement arrangements (HRA). The payment feature of these cards offers health plans and third-party administrators a more efficient way to manage the financial payments and activities for benefits plans. The cards' payment flexibility gives consumers immediate access to funds and reduces their out-of-pocket expenses or need to request reimbursement.

Also at the conference, PSI will discuss its plan administration service and demonstrate its LazerQwik® ID card system. PSI offers full plan administration services including the design and administration of pre-tax benefit plans, including FSA, HSA and HRA. The LazerQwik ID card system is a complete solution for companies that want to outsource the production of their identification cards.

"Through the combination of Metavante's financial and payments processing and Printing For Systems' expertise in the management of healthcare data, identification and communication products, we now offer a complete solution than helps healthcare insurance companies keep pace with the rapid changes taking place regarding eligibility and co-payment verification and payment cards," said Frank D'Angelo, chief executive officer of PSI and executive vice president of the Metavante Electronic Funds Group.

About Metavante Corporation

To improve the financial experience for more than 5,100 clients – including the largest 20 banks in the United States – and their thousands of customers, Metavante Corporation delivers virtually all of the technology that an organization needs to offer financial services. Metavante offers financial technology solutions that drive customer relationship management, electronic banking, electronic funds transfer and card solutions, electronic presentment and payment, financial technology services, and wealth management. Headquartered in Milwaukee, Wis., Metavante is wholly owned by Marshall & Ilsley Corporation (NYSE: MI). Metavante is a registered trademark of Metavante Corporation. For more information, see www.metavante.com.