Contacts:
ChainDrugStore.net Inc.
Pam Burkhardt
(703) 837-8311
pburkhardt@chaindrugstore.net
For WiredBenefits, Inc.
Russell LaMontagne
(212) 255-5340
russell@corinthgroup.com
WiredBenefits Joins the ChainDrugStore.net Communication Network
Alexandria, VA – May 23, 2008 -- ChainDrugStore.net announced today
that WiredBenefits has joined the ChainDrugStore.net communications network. WiredBenefits'
innovative prepaid tax effective healthcare card and online administration platform is now
available to ChainDrugStore.net members and can be private labeled or co-branded to extend
reach into the employer marketplace. The platform can also incorporate a variety of promotional
and product bundling opportunities for retailers and manufacturers.
"Working with ChainDrugStore.net is a tremendous opportunity for us," said
Charles Marshall, Chief Executive Officer of WiredBenefits. "We provide unique
capabilities around our prepaid solutions to make routine healthcare transactions have a
more retail feel for consumers. Our prepaid cards and administrative platform can be private
labeled for CDS.net members wanting to extend their range of employer offerings to include
innovative tax effective spending delivery along with promotional and compliance
capabilities."
WiredBenefits combines the latest in processing technology with stored value cards to
deliver new consumer directed healthcare opportunities. The WiredBenefits' healthcare
card can be used just as any prepaid card, the notable difference being cardholders may
only pay for prescriptions, over the counter medications and other eligible health-related
expenses. As a result all funds on the card are tax free for the employer and the
employee. WiredBenefits also works with third party administrators, insurers and
brokers to create and manage unique programs. WiredBenefits recently created a card
specifically designed for employers trying to meet the requirements of the San Francisco
Health Care Mandate.
"We are excited that WiredBenefits is using the ChainDrugStore.net network to
communicate with employers, suppliers and pharmacists," said Todd Grover,
ChainDrugStore.net's president. "WiredBenefits has developed an innovative platform
that embraces consumerism in healthcare. We see this as a great opportunity to introduce
our network participants to the broader range of service offerings."
The healthcare card product offered by WiredBenefits is a prepaid card designed on a
credit card platform. Card sponsors can add funds to employees' cards at any time and
can also work with retailers and manufacturers to integrate reward and incentive
programs into the cards. The cards, which are connected to Health Reimbursement
Accounts (HRAs), can be used in the same way a consumer would use his or her credit
card.
About ChainDrugStore.net Inc.
ChainDrugStore.net is the link to pharmacy – an online communications network
manufacturers, managed care organizations, pharmacies and regulatory agencies use to
communicate and aggregate pharmacy critical product information. To learn more about
the benefits associated with being part of the ChainDrugStore.net network, visit
http://www.chaindrugstore.net
About WiredBenefits, Inc.
WiredBenefits is a pioneer in the field of prepaid healthcare, offering a system of prepaid
cards and back-end solutions to employers, insurance brokers and consumers.
WiredBenefits' products operate at the intersection of healthcare delivery, consumer
choice and the retail environment. WiredBenefits prepaid cards put the tax advantaged
benefits of traditional employer health benefits into a consumer-friendly card employees
can use on their own terms. To learn more about WiredBenefits and how your company
can become a reseller or distribution partner with the PrepaidHealthcare card please visit
www.wiredbenefits.com or email
charles@wiredbenefits.com.
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