SOURCE: Lifespring Health

June 05, 2007 08:00 ET

Lifespring Health Offers Free Cash-Back Rewards Program and Loyalty Credit Card to Offset Rising Healthcare Costs

Points Earned Through Everyday Purchases Can Be Used to Pay for Health and Wellness Products and Services

PALO ALTO, CA--(Marketwire - June 5, 2007) - With the cost of healthcare spiraling out of control, Lifespring Health today introduced a free rewards program that enables individuals to more readily afford both everyday and uncommon health and wellness expenses. The program lets individuals earn points that can be redeemed to pay for any health service, prescription, elective procedure, gym membership, wellness products, contribution to Health Savings Accounts (HSA) and many more products and services. Points can even be applied toward health insurance premiums in certain states.

Along with the rewards program, Lifespring Health also introduced a no-annual-fee credit card that lets members earn up to 4 percent back on everyday purchases such as groceries, gas, entertainment, dining. These reward points are deposited into the member's account to use as rebates for health and wellness products and services.

Self-insured individuals and those participating in employer-sponsored programs are now paying more out-of-pocket as the cost of health insurance has risen four times faster on average than workers' earnings since 2000, according to the Kaiser Family Foundation and the Health Research and Educational Trust.

Lifespring Health addresses these rising costs with a revolutionary new way to pay for healthcare products and services. Designed much like a frequent flier program but with far more flexibility, the Lifespring Health free rewards program lets members earn points for shopping at its preferred retail partners' sites and create their own online "communities" where members earn extra points for any purchase made. By doing so, the rewards program offers a simple way for individuals -- whether they participate in employer-sponsored health plans, are self-insured, or have no insurance -- to offset rising insurance premium costs and save on health and wellness-related products services.

"Healthcare costs should not be a burden," said Mark Pearson, Lifespring Health founder and CEO. "The Lifespring Health rewards program is free, and fits easily into our members' lifestyles. Without any restrictive terms or conditions, it offers them an opportunity to earn real cash back on their everyday purchases, and use that money to maintain a healthy lifestyle."

Using a combination of the free rewards program, community model and rewards credit card can give a Lifespring Health member up to seven times more point-earning potential.

How Does the Lifespring Health Rewards Program Work?

The Lifespring Health free rewards program is unlike any health rewards program currently being offered. Anyone can join the Lifespring Health rewards program by signing up for free on the company's website at www.lifespringhealth.com. Members can shop at the more than 225 preferred retail partner sites, including Apple iTunes, Best Buy, Office Depot, Target, and a number of top hotel chains and rental car companies. Points earned through purchases can be redeemed via Lifespring Health's website. Each point earned -- which is equivalent to US $1 spent -- can be used as a rebate for any healthcare or wellness-related product, from health insurance premiums (Calif. only) and HSA contributions to vitamins, gym memberships, or even elective procedures such as Botox, Lasik or acupuncture.

How Can Members Maximize their Earning Potential?

Lifespring Health offers its members two ways to increase their point-earning potential once they have signed up for the free rewards program:

--  The Lifespring Health Community: Similar to social networking website
    LinkedIn, members can invite their friends and family to join their
    Lifespring Health Community. This optional program enables members to earn
    points when both they and the other members of their community make
    purchases. Creating a community gives members up to seven times more
    earning power for points.
--  Lifespring Health Rewards Credit Card: This no-obligation Everyday
    Rewards Visa Platinum credit card offers a competitive interest rate and
    allows members to build up redeemable points even faster than participating
    solely in the free rewards program. Points can be earned on any purchase
    from any retailer, whether online or at the store. Each purchase earns up
    to 4 percent cash back on the net amount. If the card is used to make a
    purchase from one of Lifespring Health's online retail partners, members
    will accrue both the points for the purchase amount and the points offered
    by the online retailer.
    
Lifespring Health also offers optional health insurance plans and tax-advantaged HSAs (Health Savings Accounts) to its members. These plans and HSAs are typically attractive to those members who are self-insured and need additional options to save money on rising healthcare costs.

About Lifespring Health

Founded in 2005 and in beta-launch since 2006, Lifespring Health offers free cash-back rewards solutions and community programs to help people afford to stay healthy. The company's patent-pending free rewards program is the first loyalty program in the healthcare sector that provides individuals with options for funding health and wellness-related costs. Lifespring Health also offers a non-annual fee rewards credit card, Health Savings Accounts (HSA) and a health insurance program for smaller companies and individuals. Lifespring Health is based in Palo Alto, Calif. and is privately funded. For more information, go to www.lifespringhealth.com.

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