Open forum addresses government and market issues on the horizon
Open Solutions Inc.®, a provider of integrated enabling technologies for financial services providers across the United States, Canada and other international markets, recently joined N.J.-based Information Strategies Inc., a media and marketing company, to co-host an event on Health Savings Accounts (HSAs) at The White House Executive Office Building in Washington, D.C. on April 15.
More than 80 senior executives from major HSA custodial institutions, community banks and credit unions representing more than 95 percent of all U.S. HSA account holders attended the event to learn more on the political impact of HSAs. Open Solutions offers major trustees, insurance carriers, third-party administrators (TPAs) to insurance carriers and other eligible financial institutions a comprehensive, outsourced processing solution for HSAs.
During the forum, senior policy makers and financial industry leaders addressed the administration's continued focus on accelerating the growth of HSAs, the vulnerability of HSAs in the current political environment and their potential future. Clients and prospects heard from several political figures including Julie Goon, special assistant to the President for Economic Policy; Steve Preston, administrator, U.S. Small Business Administration; and W. Thomas Reeder, benefits tax counsel, U.S. Department of the Treasury, as well as Congressman Paul Ryan, R-WI; Congressman Chris Cannon, R-UT; Roy Ramthun, HSA Consulting Services; Robert Patricelli, chairman & CEO Evolution Benefits; and JoAnn M. Laing, president & CEO, Information Strategies Inc.
According to Mike Nicastro, SVP and CMO, Open Solutions, "As a thought leader in the industry, Open Solutions was delighted to sponsor this event with Information Strategies Inc. It is extremely important to bring industry leaders as well as executive and legislative branch leaders together to evaluate the progress of health savings accounts, and to help make U.S. healthcare more affordable and more widely available. This year's event highlighted the continued growth of HSAs, new challenges on the regulatory front and competing visions for the future of healthcare in the U.S. With the 2008 Presidential election nearing, it's an exciting time to be in this industry, as the years following the election are expected to bring change to the nature of how we plan and pay for healthcare. We look forward to working with industry and government leaders to help create a better future for healthcare."
About Health Savings Accounts
The Open Solutions CFS division provides outsourced information processing in the area of asset retention, corporate banking, healthcare banking and insured deposit services for banks, insurance companies and major corporations. Open Solutions has developed a comprehensive and flexible suite of technology and services to enable HSA service delivery for all the participants in the healthcare market from the individual consumer and employer to third party administrators, banks and investment brokers. Our proven solution provides a, secure set of services that enables the full range of HSA activities from enrolment and contribution, to payments, account management and investment.
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, and payment and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States and Canada to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.