East Windsor, N.J., June 21, 2006 - CareGain Inc., a business unit of Fiserv Inc. (Nasdaq: FISV), announced today an arrangement with Health Net to use CareGain´s Defined-Care ® Platform to enhance Health Net´s consumer-directed health offerings. CareGain will provide the Defined-Care Platform through an ASP hosting arrangement. The agreement with Health Net is the first time CareGain´s Defined-Care Platform has been licensed as an ASP hosted solution. Several health plans have implemented the Defined-Care platform under a licensing agreement. The arrangement with Health Net will begin in the Northeast, including the states of Connecticut, New Jersey and New York.
"Our partnership with a plan the size of Health Net is an important milestone for CareGain because of the substantial opportunity and our ability to deliver a hosted solution," said Madan Moudgal, chief operating officer of CareGain. "By introducing our new ASP model, we decrease the time to market for plans looking to take a leadership stake in consumer-directed health care."
CareGain´s Defined-Care Platform enables health plans to address multiple areas of cost containment through the use of best-of-breed information technologies and applications. Defined-Care can be seamlessly integrated into existing systems. The flexible platform enables HRA-, HSA- and FSA-based plan designs. It provides connectivity to online disease management and cost comparison tools, pharmacy benefit managers and multiple financial institutions.
"Health Net is committed to helping our members take more control over their health care," said Steve Nelson, president, Health Net of the Northeast. "Our CareGain partnership is part of our dedicated effort to making consumer-driven decision making as simple and convenient as possible for our members."
About CareGain
CareGain Inc. enables health plans to flexibly, rapidly and cost-effectively create and administer consumer-directed health plans, while leveraging the health plan´s own internal systems and infrastructure. CareGain´s platform enables sophisticated plan designs through the use of multiple account structures. CareGain was founded in 2001 and became a division of Fiserv Health in December 2005. CareGain is based in East Windsor, N.J., and is a Solutions Partner of America's Health Insurance Plans (AHIP). CareGain can be found on the Internet at www.caregain.com.
About Fiserv Health
Fiserv Health provides a full array of integrated health plan management, claims processing and administration services for self-funded medical, dental, vision and disability plans. The Fiserv Health group includes CareGain, a consumer-driven health plan software platform. Find out more at www.fiservhealth.com.
About Fiserv Inc.
Fiserv, Inc. (Nasdaq: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.
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