April 21, 2014 1:06 AM ET

Insurance

Company Overview of Cielostar

Company Overview

Cielostar provides benefits administration outsourcing services and technology solutions. It offers employer solutions, including online enrollment and electronic data interchange, aggregated billing and reconciliation, COBRA/HIPAA and retiree administration, FSA and pre-tax administration, and employee service center. The company also provides consumer driven solutions, which include online voluntary product offerings with credit card premium payment; and My Kydos, an online platform integrating wellness, personal heath record management, and a health benefits marketplace. Its consumer solutions offer various programs for employers, associations, financial institutions, and other affiliate ...

730 Second Avenue South

U.S. Trust Building

Suite 530

Minneapolis, MN 55402

United States

Founded in 1988

Phone:

612-436-2700

Fax:

612-338-2673

Key Executives for Cielostar

Chief Executive Officer
Founder and Executive Chairman
Chief Financial Officer
Chief Strategic Officer and General Counsel
Age: 64
Executive Vice President of Emerging Markets and Provider Solutions
Compensation as of Fiscal Year 2013.

Cielostar Key Developments

Cielostar Announces Deployment of its New CieloStar Card

Cielostar announced the deployment of its new CieloStar Card, which will allow consumers to settle co-pay healthcare costs and receive rewards and benefits all on one convenient, multi-purpose card. The CieloStar Card will permit consumers to track their health benefits, discounts, rewards and health savings dollars in one easy-to-access place. By integrating the latest developments in advanced payment technology, the CieloStar Card provides access to Health Savings Account dollars wherever they can be spent along with easy access both online and mobile to balances and transactions. The CieloStar Card is also a discount card allowing consumers to obtain savings on a variety of medical services, an important function in an era when individuals will become increasingly responsible for medical expenses due to higher deductibles and co-pays. The CieloStar Card provides access to such services as Medical Bill Help and Surgical Care Services which afford substantial discounts on numerous medical procedures and services, in addition to savings at over 59,000 pharmacies, 70,000 dental offices and 11,000 vision care providers.

CieloStar Enters into an Exclusive Distribution Partnership Agreement with MediCheque Cash Plans Limited

CieloStar announced that it has entered into an exclusive distribution partnership agreement with MediCheque Cash Plans Limited (MCP) of London, England. Under the arrangement CieloStar will become the sole distribution partner for offering MCP's Medical Recovery Insurance plans across the United States. Aimed at employers and private individuals, CieloStar's Medical Recovery Insurance will be sold under the name CieloCheque. It represents a fresh approach to conventional hospital plans that offer set cash benefits irrespective of the length of time a person is unable to work. The result is an inexpensive insurance policy that acts independently of any existing health insurance and provides a vital injection of cash, that individuals and their families can use for out-of-pocket expenses and to supplant reduced income to help them manage until they're ready to return to work. CieloCheque is based on four different benefit levels, with benefits matched to the normal recovery time for classifications of operation or procedure, from day case surgeries to more complex in-patient stays.

Cielostar Names Paul Boemer as Executive Vice President, Emerging Markets and Provider Solutions and Frederic D. Thierbach as Vice President of Sales

Cielostar has added two senior executives to its management team. Paul Boemer has joined the company as executive vice president, emerging markets and provider solutions and Frederic D. Thierbach has been named vice president of sales for the company. Boemer has over 25 years of payment solution experience in healthcare, banking prepaid, consumer, commercial and government markets. Prior to joining CieloStar, he was national sales director for Fidelity Information Systems. He was instrumental in the growth of the prepaid card industry from 1999 to 2007, driving payment solutions used by CieloStar now. Boemer is a business administration graduate of Marquette University. Thierbach is an accomplished technology, product management, marketing and sales executive with over 32 years of experience in the employee benefits and health plan administration markets.

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