UMB HSA Solution Now Offered by Tango Health

  UMB HSA Solution Now Offered by Tango Health

Business Wire

KANSAS CITY, Mo. -- February 20, 2013

UMB Healthcare Services, a division ofUMB Financial Corporation(NASDAQ:
UMBF), announced today that Tango Health will begin marketing an integrated
Tango/UMB Health Savings Account (HSA) solution to employers nationwide.

“UMB is pleased to have this opportunity with Tango Health,” said Dennis
Triplett, chief executive officer of UMB Healthcare Services. “We believe our
financial strength and health care payments expertise, along with Tango’s
reputation as a premier provider of HSA management software and services,
makes for a strategic offering.”

According to a May 2012 report from America’s Health Insurance Plans, more
than 13.5 million Americans are currently using HSAs partnered with
high-deductible health plans – an 18 percent increase from the previous year’s
report. Following 2012 open enrollment, UMB now services nearly 320,000 HSAs
nationwide with balances of more than $615 million dollars making it one of
the top 10 custodians in the country with account holders throughout the
nation.

“We continue to see increased acceptance of consumer-driven health plans and
HSAs, which requires a strong financial partner committed to the health care
space like UMB, combined with our state-of-the-art HSA software and services,”
said Duncan Van Dusen, co-founder and CEO of Tango Health. “We’re excited to
partner with UMB and bring-to-market highly innovative HSA solutions that
deliver the employee adoption rates, performance and cost savings that
employers are demanding.”

Tango Health helps employers and their employees increase HSA adoption, usage
and related tax savings through a suite of online services. These tools assist
in increasing employee participation while reducing administrative burden by
streamlining the enrollment and contribution process. Tango also offers online
tools that allow employees to upload receipts, track their contribution
maximums and receive annual limit alerts.

UMB Healthcare Services delivers health care payment solutions including
custodial services for HSAs and private label, multipurpose debit cards to
insurance carriers, third-party administrators, software companies, employers
and financial institutions. UMB gained a leadership position when it became
one of the first banks to market Archer Medical Spending Accounts in 1996.

About UMB

UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding
company headquartered in Kansas City, Mo., offering complete banking, payment
solutions, asset servicing, healthcare services and institutional investment
management to customers. UMB operates banking and wealth management centers
throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and
Arizona. It also has a loan production office in Texas. Subsidiaries of the
holding company include mutual fund and alternative investment services
groups, single-purpose companies that deal with brokerage services and
insurance, and a registered investment advisor that manages the company's
proprietary mutual funds and investment advisory accounts for institutional
customers. For more information, visit umb.com or follow us on Twitter at
@UMBBank, Facebook at facebook.com/UMBBank and LinkedIn at
linkedin.com/company/umb-bank.

About Tango Health

Tango Health helps reduce the total cost of health benefits for employers and
employees by maximizing the performance of consumer directed health plans.
Employers that are focused on containing or reducing their health care costs
have come to rely on Tango because its industry leading management software
and services slash the total cost of health benefits through dramatically
increased HDHP participation as well as FICA Tax savings. In addition, Tango
provides seamless compliance with IRS regulations concerning employee directed
health accounts, enhanced employee training and ease of account
administration. To find out more about Tango HSA and FSA solutions and
reducing your health care costs, visit www.tangohealth.comor
call855-468-2646.

Tango Health is a registered trademark of Tango Health, Inc. All other names
may be trademarks or registered trademarks of their respective owners.

Contact:

UMB Healthcare Services
Kristin Kovach, 816-423-6131
 
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