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Life Health > Health Insurance > Health Insurance

Health Account Card Includes Free Financing Feature

By Staff Writer

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Great-West Healthcare has agreed to offer a payment card program from E-Duction Inc. to health plan customers that have health savings accounts, flexible spending accounts and other personal health accounts.[@@]

Great-West, Greenwood Village, Colo., says it has started to test the new Clear Card program this month.

E-Duction, Blue Bell, Pa., has set up a card program that provides interest-free financing for up to 6 months for qualified medical expenses that are greater than $199.

Card holders who do not have enough account assets to pay bills for less than $199 can pay for purchases through automatic payroll deductions over 2 months, Great-West says.

The Clear Card program also provides a credit line of up to 4% of the member’s annual base salary, Great-West says.

No advance contributions are required, and there are no financial penalties if the benefit is not used, Great-West says.

Great-West is a unit of Power Corp. of Canada, Montreal.

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