Humana introduces credit card
NEWS IN BRIEF — Posted Nov. 19, 2007
Louisville-Ky.-based Humana is offering some of its members an interest-free line of credit to use for health care expenses.
The health plan is working with Republic Bancorp Inc., also based in Louisville, to introduce the HumanaAdvance Visa card. The line of credit comes with a fixed 0% interest rate and is repaid by automatic payroll deduction, according to a company news release.
The HumanaAdvance card may be used only at hospitals, doctors' offices, pharmacies and other places health services are offered.
Beth Bierbower, vice president of product innovation at Humana, said the card is meant to be a solution to covering health expenses after other "sources of funds" are used up.
Other insurers are working with banks or opening their own banks to offer health spending cards deducting from credit or debit accounts.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2007/11/19/bibf1119.htm.