Regence teams with U.S. Bank to offer new health savings account solution

(Portland, OR) -- Members who choose Regence’s Health Savings Account (HSA) will soon benefit from a new banking option, now that the company has added U.S. Bank as a banking partner. Regence selected U.S. Bank for its comprehensive approach to health care banking and its strong consumer track record.

“We are proud to partner with an established financial institution and brand like U.S. Bank to offer our members the superior level of quality and financial services they have come to expect from Regence,” said Cary Badger, vice president of Market Development for Regence. “U.S. Bank’s experience, strong brand recognition and flexibility in online servicing capabilities embody our shared philosophy of supporting members in their health care decisions.”

U.S. Bank will serve as the debit card issuer and funds custodian for the Regence HSA. Their responsibilities will include providing account banking and all debit card services, card administration, customer service, web site portal maintenance and issuance of bank and tax statements. Their web site also provides easy access to the member accounts, and employer and agent tools.

“We are very pleased and honored that Regence chose us as their HSA partner,” said Ralph Bernstein, U.S. Bank’s senior vice president of Healthcare Payment Solutions. “Together, our two companies share a long-standing commitment to outstanding customer support and service. We look forward to working with Regence to demonstrate our commitment to their members, every day.”

Each of Regence’s partner banks hosts a co-branded web site that enables employers to monitor their HSA program and provides members 24-hour access to their account deposits and balance transaction history. With Regence’s new HSA 2.0, scheduled for launch later this year, members will receive a Regence co-branded debit card to pay for any qualified medical expense.

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $247 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States as of June 30, 2008. The company operates 2,542 banking offices and 4,895 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.

About Regence
Regence is the largest health insurer in the Northwest / Intermountain Region, serving three million members as Regence BlueCross BlueShield of Oregon, Regence BlueShield (selected counties in Washington), Regence BlueCross BlueShield of Utah and Regence BlueShield of Idaho. Each plan is a not-for-profit independent licensee of the Blue Cross and Blue Shield Association. Regence is committed to improving the health of our members and our communities, and to transforming our health care system. For more information, please visit www.regence.com.