SIOUX FALLS, S.D., Dec. 28, 2015 /PRNewswire/ -- MetaBank® recently entered into an agreement with ClearBalance®, the healthcare industry's leading provider of consumer-friendly patient loans. The Sioux Falls-based financial services company will provide financing for a number of ClearBalance's consumer-friendly loan programs. This partnership will help bring financial solutions to an industry in great need. According to the Kaiser Family Foundation, 70% of Americans who struggle with healthcare debt have insurance. ClearBalance services more than 4 million patient accounts by partnering with hospitals to provide consumer-centric, affordable care.
"More Americans may have insurance, but that doesn't mean they actually can afford care," says Bruce Haupt, president and CEO of ClearBalance. "High deductible health plans have created a false sense of insurance, and many people are surprised and unprepared to pay their portion of the medical bill. As a result, more healthcare organizations are turning to us to provide consumer-friendly loan programs so individuals can repay their cost of care affordably."
"The healthcare industry is rapidly evolving and many consumers need additional financing options," says MetaBank CEO J. Tyler Haahr. "MetaBank takes great pride in offering inventive and valuable solutions to its partners and customers. We are excited to work with ClearBalance because they are an industry leader in the patient loan financing industry."
Headquartered in Sioux Falls, SD, MetaBank operates in both the Banking and Payments industries. Within Banking, the traditional retail bank business operates 10 branches in four market areas: Central Iowa; Storm Lake, Iowa; Brookings, S.D.; and Sioux Falls, S.D.; and also includes AFS/IBEX, its insurance premium financing division. Meta Payment Systems, it's electronic payments division and Refund Advantage, its tax refund-transfer software division, comprise the Payments business. Meta Financial Group, Inc.® (NASDAQ Global Market®: CASH), is the holding company for federally chartered savings bank MetaBank, Member FDIC. For more information, visit metabank.com. For more information about Meta Financial Group, visit metafinancialgroup.com.
ClearBalance partners with health systems to provide consumer-centric affordable care while improving net recovery of patient pay and overall financial performance. We have served more than 4 million patient accounts and maintain the industry's highest patient loan repayment rate. Our program enables patients to easily pay their medical costs and engenders loyalty, positioning the health system as the care location of choice in its community. The ClearBalance ROI Value Model™, Peer Reviewed by HFMA, establishes nationally recognized patient loan program performance standards to benefit health systems and their patients. www.ClearBalance.org.