READING, Pa. and LOS ANGELES, Nov. 6, 2006 (PRIMEZONE) -- First HSA and DestinationRx announced today that that the companies have agreed to provide DestinationRx's Rxaminer drug comparison tool to First HSA customers. Under the terms of the agreement, new and existing First HSA Health Savings Account (HSA) clients can access information on retail costs of prescriptions, compare prices to other brands of drugs, and evaluate cost savings from the use of generic medications. Customers will be given the choice to opt-in to these added features at no additional charge.
"The Rxaminer prescription information tool provides our clients with all the information they need to make wise healthcare decisions. Patients discuss and review the information with their provider and pharmacist. The patient and the provider have complete control over these decisions, while having access to the most up to date information available. The costs savings can be tremendous through higher use of generic medications, pill splitting or switching to other less costly brand medications," said William West, president and founder of First HSA. "We believe that DestinationRx is the leader in providing accurate prescription information and cost comparison data to its clients. We are pleased to be one of the first independent HSA administration companies to use this innovative tool."
First HSA has integrated the Rxaminer drug comparison tool into their offering for HSA account holders. Account holders can enter their entire drug regimen and receive dose-specific comparisons of brand and generic alternatives. The site also provides information on medications and how similar classes of medications compare in cost and risk. Clients can print or download the information on their medications and take it with them to office visits. Patients can track their prescriptions through their personalized "medicine cabinet" and purchase prescriptions on-line through the site at a significant discount.
"Health savings accounts provide a vehicle for consumers to save what they don't spend on healthcare," said Toby Rogers, executive vice president, DestinationRx and founder of Rxaminer. "First HSA is a leading player in the consumerism movement, providing one place for HSA account holders to learn about their healthcare while also having access to the best tools for managing their pharmacy costs."
About First HSA
First HSA was founded as First MSA in 1999. First HSA is a nationally recognized leader, 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, an internet platform specially designed for HSAs, 24-hour telephone banking, all IRS reporting, live customer service and investment options. First HSA provides pricing information on healthcare services and prescriptions to its clients. Other features include electronic health records, second opinion programs and integration of the health savings account with insurance company data. First HSA has led the way in providing its customers the tools necessary to make wise healthcare decisions. First HSA has partnered with Leesport Bank, a subsidiary of Leesport Financial Corporation, to provide HSA trustee services. For more information go to www.1HSA.com or call (610) 678-6000.
About DestinationRx and Rxaminer
Founded in 1999, DestinationRx is a leader in consumer drug comparison and purchasing technology. The company provides government and commercial plan providers with the resources to create fully integrated and comprehensive decision-support capabilities for their members. DestinationRx is also a leading consumer resource, providing education, price comparisons, and purchasing options for a variety of prescription drug and other healthcare transactions. The company's client roster includes the Centers for Medicare and Medicaid Services (CMS), pharmacy benefits managers (PBMs), large health plans, Fortune 100 employers, and advocacy organizations such as the American Association of Retired Persons (AARP). On May 5, 2006, DestinationRx acquired Rxaminer, the first organization to provide consumers with equivalent-dose drug comparison pricing. For more information, visit: www.DestinationRx.com and www.Rxaminer.com.