PR - First Horizon Msaver and TSYS Join for HSA Card

First Horizon Msaver, a leading administrator of Health Savings Accounts (HSAs), and TSYS, one of the world’s largest payment-solutions providers, today announced they have teamed up to offer a multi-purse healthcare and benefits payment card unmatched in the healthcare industry. A multi-purse card allows an employee to use a single debit card to access HSA, Health Reimbursement Arrangement (HRA) and Flexible Spending Account (FSA) funds to pay for healthcare costs at locations like a doctor’s office or pharmacy.

E. Craig Keohan, president of First Horizon Msaver, said that the integrated product offering would appeal to health plans, third party administrators (TPAs) and correspondent banks that are seeking multi-purse healthcare and benefits payment card solutions. "By teaming with one of the world’s largest card processors to marry debit, prepaid and credit transactions into a single integrated account,” said Keohan, "we will have the ability to quickly bring to market a solution set that will meet the demand, scale and innovation that is lacking in the multi-purse prepaid benefit card industry today.”

"We view this relationship as a powerful market combination,” said Duane E. White, group executive for healthcare at TSYS. "This was a unique opportunity to work closely with one of the leading innovators within the healthcare financial field to develop the next generation integrated payment product. Combining our processing capabilities with the marketing capabilities of First Horizon Msaver should be a winning strategy.”

First Horizon Msaver works with more than 50 health plans and TPAs to administer HSAs for customers who select HSA-qualified health plans.

First Horizon Msaver Inc. is a leader in the servicing of Health Savings Accounts and is a member of the First Horizon National Corp. (NYSE: FHN) family of companies that provides financial services to business customers and individuals nationwide.

TSYS is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare and prepaid services for financial institutions and retail companies in North America, Europe and the Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE: TSS) is closely held by Synovus Financial Corp.