Louisville, Ky. (June 14, 2006) SHPS, a leading provider of healthcare consumerism solutions, announced today that it is the administrator of Kaiser Permanentes new CarePay health reimbursement arrangement (HRA) financial account. The CarePay HRA is an integrated part of the Custom Care HealthBuilder (HRA) product. Kaiser Permanente is the nations leading integrated health plan with more than 8.5 million members.

The CarePay HRA is an employer-funded spending account that provides tax-free funds to employees and their dependents for eligible healthcare expenses. The CarePay HRA allows employers to contribute funds to their employees to help them cover their healthcare costs, while encouraging them to take a more active role in their healthcare spending decisions.

The SHPS-Kaiser Permanente agreement exemplifies the very best of todays healthcare landscape, said Rishabh Mehrotra, SHPS president. Spending accounts are a critical component of any healthcare consumerism program, as they help individuals assume individual ownership for their healthcare decisions. SHPS is pleased to put our broad experience to work for Kaiser Permanente.

As one of the nations largest spending account administrators, SHPS offers Kaiser Permanente its claims processing infrastructure and expertise to support a successful HRA program. In addition to administering the CarePay HRA account, SHPS will also offer Kaiser Permanente sales training support.

Employers are looking for benefits solutions to keep costs down and help their employees stay healthy, said Ted Wise, senior vice president, Health Plan Strategy and Product Innovation for Kaiser Permanente. Kaiser Permanente is pleased to offer more choices for employers and consumers while extending access to Kaiser Permanentes stable, integrated healthcare delivery system.

The CarePay HRA can be conveniently accessed using a debit card, offering members access to their HRA funds at the point of service, and streamlined medical claims substantiation.

Kaiser Permanente has an extraordinarily rich legacy in healthcare and is well-positioned to lead the healthcare consumerism marketplace, added Mehrotra. SHPS is pleased to work with Kaiser Permanente in building a better healthcare experience for consumers.

About SHPS | Carewise Health
SHPS is a leading, independent provider of integrated health solutions that improve personal health and reduce spending. By integrating traditional health management and benefits administration services, SHPS delivers people-centric solutions that empower individuals to make wise healthcare choices. It serves large and mid-sized employers, government agencies, and third-party administrators through the company’s Carewise Health, Landacorp, and SHPS brands. Visit www.carewisehealth.com.

For More Information
LeAnn Ross
Director of Marketing
leann.ross@shps.com

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