Canopy Financial?s Consumer Directed Healthcare goes mobile

Canopy Financial has released the "Consumer Directed Healthcare" application for the Apple iPhone and iPod touch.

Canopy's mobile CDH application lets consumers search medical procedures using keywords to determine if they are eligible to be paid using tax-advantaged CDH spending accounts. Canopy's Mobile CDH application then maps local providers and provides the cost of the procedure based on the consumer's ZIP code.

"The launch of the consumer app will be followed by an enterprise/white-label version of the app that can be branded by financial institutions and health plans and offered directly to their consumer base," said Vik Kashyap, CEO of Canopy Financial Inc., San Francisco.

The target demographic is primarily consumers with Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRA) and Flexible Spending Accounts (FSAs).

Canopy's CDH application levels the medical-expense playing field by giving consumers real-time access to information regarding medical procedures,their costs an whether they are eligible for payment using tax-advantaged CDH spending accounts.

The data is keyword searchable within Canopy's CDH mobile application and served up along with CDH related content.

Canopy's iPhone app features five separate Resource Tabs, including a Medical Expense Locator, which lets consumers conduct keyword searches for medical procedures.

The Procedure Cost Analyzer lets consumers navigate medical procedures to determine the customary cost insurance carriers and employers generally pay for medical procedures reimbursed under a health insurance policy or health plan within a given ZIP code.

The CDH Account Login provides consumers real-time mobile access to information on their tax advantaged CDH spending account, including account balance and transaction details.

The real-time News Feed provides consumers update news and information on the CDH industry, HSA account requirements, new provisions and market trends.

The HSAInsider provides a direct link into HSAInsider.com, a resource for business and consumer HSA news, facts and information.

From HSAInsider.com, businesses and consumers can also download Canopy's latest HSA Road Rules 2009 resource guide and establish an HSA program that aligns with their individual needs.

Priced at $4.99, Canopy's iPhone app supports the latest 2.0 version and above functionality and is available via Apple's App Store.

"We are using a combination of tactics including direct marketing, online advertising and partner promotion offering to get the word out about the iPhone app," Mr. Kashyap said. "At this point there is no plan for advertising or sponsorship within the consumer app."