HANOVER, Md., May 6, 2004 (PRIMEZONE) -- Humana Trans Services Holding Corporation (OTCBB:HTSC) (http://www.humanaservices.com), a principally engaged firm involved in employee leasing and recruitment services announces that it has completed development of its Humana card with its partner Provo International (AMEX:FNT). As previously announced, this new card will allow Humana to offer several thousand employees the ability to receive their payroll electronically as an alternative to the traditional paper paycheck. The Humana card can be used as an ATM card, debit card, and cash transfer card and can be used wherever major credit cards are accepted. The Humana card provides both Employers and Employee's many advantages over the paper paycheck. Employers benefit from reduced processing, distribution and administrative costs while employees enjoy world wide access to cash, electronic bill paying and debit card acceptance.
Secondly the Humana management has plans to implement the Human/Provo card platform immediately in its benefit administration departments, with the launching of its flexible medical/health reimbursement account program. These accounts allow employees to set aside part of their salary each pay period on a pre-tax basis to pay for the out-of-pocket health care expenses not covered by a formal health plan. The nature of this IRS approved method of health care payment greatly reduces the pain felt by most employees when paying for non reimbursed health care costs and reduces the ever growing burden for the thousands of workers without formal health care. The use of the Humana/Provo card allows for the ease of reimbursement, record keeping and payment ability for the participating employee allowing payment wherever major credit cards are accepted including the discounted internet/mail-order prescription providers. Humana plans to market these accounts to its current client's and prospects utilizing its strategic alliances with health care insurance brokers to offer turn key health insurance and reimbursement account administration packages. These marketing alliances open new sales opportunities for Humana while supporting the use of Humana's other HRO/PEO products. Rising health care issues affect everyone and this program addresses the out of pocket costs directly positively affecting all parties concerned.
Paul Capozio V.P. of Sales and Marketing stated:
"The implementation of the Humana/Provo card program further demonstrates our commitment to provide true HRO solutions to our current and future customers as well as our acquisition candidates. We have received nothing but excitement and interest from clients and our sales people have been well received by new prospects -- it is a win-win situation."
John Daly President of Humana Trans Services stated:
"As originally stated this Humana/Provo card partnership allows for our vertical systems integration, but also provides maximum profitability for both Employers and employees. While the economies of scale savings are great the real benefit from the Humana card will come from the new revenue streams enjoyed from our new Benefit Administration programs."
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