The arrival of
banks in the CDH space took a huge leap forward today as a major national
bank signed with ConnectYourCare for an integrated HSA-HRA-FSA solution.
LaSalle Bank announced that a newly formed healthcare subsidiary, LaSalle
Healthcare Administrative Services LLC will offer a full-service,
customizable payment platform to employers, health plans and
TPAs.
The new
healthcare products subsidiary was specifically set up by LaSalle to
exclusively market and distribute healthcare financial products , and may
soon be the first and biggest entry of a bank into the employee health
benefits market in the U.S.
The new
healthcare product includes claims adjudication, a multi-purse account and
payment card, integration between and across benefits, investment options,
and a single sign-on portal for access to account management and health
decision making tools.
LaSalle is
specifically targeting small to large employers who want to move to a pure
“defined contribution” approach “so employers can move their benefits
focus to wellness and wealth management while gaining control over costs,”
a press release says.
LaSalle is the
largest bank headquartered in Chicago with $72.2 billion in assets and
$46.8 billion in deposits. LaSalle Bank serves individuals, small
businesses, middle-market companies and institutions through 146 retail
locations, 450 ATMs, and on-line at lasallebank.com throughout
Chicago and the neighboring suburbs. LaSalle Bank also operates in 20
states and maintains commercial banking offices in 26 cities across the
U.S. and offers specialty services through its direct and indirect
subsidiaries, LaSalle Financial Services, Inc., LaSalle National Leasing
Corporation, and LaSalle Business Credit, LLC.
Parent company
LaSalle Bank Corporation holds $116 billion in assets and is an indirect
subsidiary of Netherlands-based ABN AMRO Bank N.V., one of the world’s
largest banks with total assets of EUR 986 billion, more than 3,000
locations in over 60 countries and staff of more than 105,000 full-time
employees.
