SOURCE: Health Savings Technology

February 21, 2007 13:33 ET

/ CORRECTION - First HSA Selects Health Savings Technology Expertise for Company's Healthcare Administrative Portal

IRVINE, CA -- (MARKET WIRE) -- February 21, 2007 -- In the news release, "First HSA Selects Health Savings Technology Expertise for Company's Healthcare Administrative Portal," issued earlier today by Health Savings Technology, editors are advised that the header after the fifth paragraph should read "About First HSA" rather than "About First HAS" as originally issued. Complete corrected text follows.

First HSA Selects Health Savings Technology Expertise for Company's Healthcare Administrative Portal

Innovative Platform and Connectivity Technology Drives Online Health Savings Account Management

IRVINE, CA -- February 21, 2007 -- Health Savings Technology, a healthcare application service provider, today announced its services have been selected by First HSA, nationally recognized as one of the country's leading providers of health savings account (HSA) administration. Health Savings Technology's innovative platform and connectivity technology will drive access to the customer's new online healthcare administrative portal.

Health Savings Technology's fully customizable product, Reconciler™, provides the platform for the site's simple point-and-click administration through one single sign-on. The product's flexibility and extensive functionality serve as a natural extension of First HSA's online services. The platform enables First HSA to easily connect and deploy its features while simultaneously providing a secure, seamless online experience for the customer. Additional savings benefits are realized as Reconciler™ reduces the frequency of calls to the customer support center since consumers have real-time access to the status of the healthcare funding accounts and medical expenses.

"Consumers demand products designed to assist them in making wise and fiscally responsible healthcare decisions and our new portal was developed to specifically meet this requirement," said Bill West, president and founder of First HSA. "We are excited that our decision to implement Health Savings Technology's expertise resulted in the development of one of the first systems to meet the most critical need of secure system interoperability and connectivity between our customers, the bank, health plans and investment platforms."

Designed to be intuitive and easy-to-use from the user's perspective, First HSA's innovative Internet portal enables customers to self-direct their healthcare and manage their HSA information. The site provides seamless connectivity to efficiency features such as bill paying and investment platforms. In addition, First HSA's site offers a connection to effectiveness features such as the tracking of HSA account activity, summary of account balances, tracking of claims data from the insurance plan, review of qualified and non-qualified healthcare expenses, access to investment options as well as prescription management and information. Clients will also have availability to investment options which include asset allocation models and mutual funds of varying risk.

"Health Savings Technology is dedicated to improving the connectivity essential for the emerging consumer-driven healthcare market," said Steve Fowler, president and chief executive officer of Health Savings Technology. "Having been selected by such a prominent market leader like First HSA, is a validation of our company's pioneering efforts in developing powerful tools and services that meet the changing informational needs in consumer directed healthcare."

About First HSA

First HSA is nationally recognized as a leader in the industry, providing health savings account administration for its clients in all 50 states. The company provides an interest bearing checking account with unlimited check and debit card access to funds. The product also includes monthly statements, internet access, 24-hour telephone banking, all IRS reporting, live customer service and investment options. First HSA has led the way in providing its customers the tools necessary to make wise healthcare decisions. More information on the company can be found by contacting Christie Gallegos, First HSA, 610-678-6000

About Health Savings Technology

Founded in 2003 and headquartered in Irvine, Calif., Health Savings Technology is a premier healthcare application service provider dedicated to improving interoperability essential for consumer-driven healthcare. For more information about Health Savings Technology, visit our web site at www.hstechnology.com or contact Steven King, Vice President, Sales & Marketing at sking@hstechnology.com.