Hunt Valley, MD, October 22, 2007 – ConnectYourCare, a leading provider of Consumer-Directed Healthcare (CDH) account management solutions, announced that it has partnered with Eastern Bank, Massachusetts’ only Boston-based top-five bank, to deploy an integrated platform for administering health accounts including: Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and Flexible Spending Accounts (FSAs).

The partnership will expand Eastern Bank’s existing commitment to community health and well-being and is immediately available to employers, health plans and third-party administrators. Eastern Bank’s solution will re-brand ConnectYourCare’s top-ranked CDH platform that includes: financial claims adjudication, a multi-purse healthcare payment card, integrated account management, and a single sign-on portal for access to healthcare account management, online healthcare tools, and HSA investment options.

Eastern Bank’s selection was based on ConnectYourCare’s commitment to building superior technology-based solutions and exceptional consumer experiences—philosophies that parallel Eastern Bank’s own corporate strategy. 

“Eastern Bank has long had a commitment to provide for the health and well-being of the people in the communities we serve,” said Lisa Carbone, Senior Vice President of Treasury Services at Eastern Bank. “Through the Eastern Bank Charitable Foundation, we are among the region's leading contributors of financial support to healthcare organizations.  Our employees dedicate time and talent to the promotion of healthcare through their work and volunteer services.  That we are now able to offer a financial product that allows consumers to maximize their healthcare dollar is consistent with key goals of our organization.”

Allen Pease, Senior Vice President of Sales for ConnectYourCare, said, “Eastern’s reputation of being a leader in the community will enhance the value of its Eastern-branded ConnectYourCare solution. With ConnectYourCare, Eastern has the CDH account management platform with a brand that can compete with any bank.”

Eastern Bank will offer a comprehensive healthcare account administration platform for its commercial customers and business partners using ConnectYourCare’s suite of online administrative tools.  Features of the Eastern Bank CDH solution include:

• CDH Express: Small group employers can quickly and easily set themselves up online and upload employee data for a variety of account combinations.
  
  
• Real-time Employer Transparency and Control Tools: Employers can manage their employee and account data through access to the Employer Dashboard, an online management tool that enables employers to administer employee information changes or additions, such as employment status, demographic information, direct deposit, payroll deductions, etc. Employers also have access to a variety of reports to help monitor account activity related to claims, as well as treasury-related money movement controls.
  
  
• Participant Health Education and Empowerment Tools: The Eastern Bank CDH Solution provides a suite of online health-related tools such as hospital and drug comparisons, wellness and exercise guides, and medical research.
  
  
• Multi-purse Healthcare Payment Card: Eastern Bank will offer an intelligent multi-purse healthcare payment card that enables an employer to offer multiple “stacked” accounts, such as an HSA with a limited use FSA, using a single card. ConnectYourCare’s proprietary multi-purse technology was designed to draw funds from the most appropriate account first based upon an employer’s plan design, employee enrollment choices, preferences and the expense type.
  
  
• Treasury Control System:  ConnectYourCare does the heavy lifting of money movement and funds availability between employers, consumers, health plans, the bank, the debit card network, and the healthcare provider community. Health plans and third-party administrators can utilize The Eastern Bank CDH Solution as a plug-in to their CDH plan offerings, enabling the integration of health plan and account data.
  
  
• Banking and Investment Platform: The Eastern Bank CDH Solution includes competitive HSA investment options so account holders can choose how to invest the funds. Account holders will have access to HSA investments through a single sign-on portal, where they can view and select investment choices that include an FDIC insured deposit account and several mutual funds.

About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest independent, mutually owned commercial banking franchise in New England.  With $6.5 billion in assets and 74 branches stretching from Merrimack Valley to Cape Cod, Eastern offers superior service, convenience and a full range of financial products for consumers, businesses, investors, government agencies and not-for-profit organizations.  Its subsidiaries include Eastern Insurance and Fantini & Gorga, a real estate advisory firm. For more information, contact Joe Bartolotta, Public Relations Director, Eastern Bank (781) 596-4411, or e-mail Joe Bartolotta.

About ConnectYourCare
ConnectYourCare’s benefit delivery platform provides a pathway for migration to CDH, supplying tools for employees to better manage their healthcare choices and a vehicle for employers to realize healthcare cost containment. ConnectYourCare solutions include a multi-purse health payment card and Internet portal for employees to manage tax-advantaged accounts and related investments, completely transparent financial claims adjudication, multi-channel access to ConnectYourCare’s customer support services, and comprehensive medical information and decision-support tools with a focus on wellness. ConnectYourCare is a subsidiary of Express Scripts, Inc., a leader in pharmacy benefit management services. Please visit us at www.connectyourcare.com for more information or call 1-877-495-3341.