Carol Kraft Receives "Women in Business" Award From Mpls.-St. Paul Business Journal

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Carol Kraft Receives "Women in Business" Award From Mpls.-St. Paul Business Journal

May 28, 2013

Award recognizes Kraft as one of Top 50 women business leaders in Minnesota

EAGAN, Minn. (May 28, 2013) — A driving force in health care for more than 30 years, Carol Kraft, president and chief operating officer of SelectAccount, was recently recognized by the Mpls.-St. Paul Business Journal as one of the Top 50 “Women in Business” in Minnesota. Kraft received the recognition during a luncheon on Thursday, May 23 at the Minneapolis Hilton. SelectAccount, a Minnesota-licensed insurance company and affiliated business of Blue Cross and Blue Shield of Minnesota, is one of the nation’s top administrators of medical spending accounts, including health savings accounts (HSA), flexible spending accounts (FSA) and health reimbursement arrangements (HRA).

Now in its 16th year, the Women in Business program recognizes industry-leading executives, entrepreneurs, and business owners for their professional achievements, leadership qualities, and contributions to the broader Twin Cities community. Kraft was recognized for her contributions to the health care industry and her longstanding commitment to mentoring upcoming female leaders.

As consumer-driven health plans have become increasingly important to maintaining affordable health coverage, Kraft has contributed significantly to the development and ongoing evolution of medical spending solutions that support the needs of both employer and individual health care purchasers. In her current position at SelectAccount, Inc., Kraft manages the overall operations and technology infrastructure for one of the Top 10 administrators of HSAs in the country. SelectAccount is an affiliated company of Blue Cross and Blue Shield of Minnesota. Kraft has been a key player in the development of the company’s online capabilities and recently introduced mobile platform, which allow employers and individuals to conveniently and effectively manage their health care dollars now, and in the future.

“Carol has been a crucial factor in our growth and success over the years,” said David Spalding, CEO of SelectAccount. “She has a deep knowledge of the HSA industry and valuable experience in health care that enables her to connect with the needs of our customers and to lead our product development efforts so we continue to be at the cutting edge of health care spending solutions. She is a role model for our industry and I am thrilled to be able to congratulate her on this most recent honor.”

Kraft also led the implementation of SelectAccount’s first acquisition in 2012 and plays an ongoing role in the company’s growth strategy, including establishing a SelectAccount office in Chicago, Ill. As a result of Kraft’s leadership contributions, SelectAccount now provides health care saving solutions in all 50 states, including service to members through 14 regional health plans and nearly 7,000 employers. SelectAccount currently has approximately $400 million in consumer medical savings assets under management, making it among the largest account administrators in the country.

Kraft is immediate past president of the Women’s Health Leadership Trust, and serves on the board of directors for CCStpa. In 2011, she received the Jean Harris Award, the most prestigious award available, from the Women’s Health Leadership Trust. The Jean Harris Award celebrates and perpetuates the vision and leadership of one of the TRUST's most respected members. To receive this award, the recipient must have made outstanding contributions in health care leadership that extend beyond the TRUST and the individual’s work environment. Award recipients are known for providing influence beyond their immediate surroundings. As past-president of the Women’s Health Leadership Trust, an organization committed to empowering and supporting women executives, Kraft has mentored many aspiring women in the field of health care and was instrumental in growing the organization to over 350 women.

Kraft is an active member in a variety of community organizations, including the American Banking Association and the Mendota Dakota Organization. She also serves as the executive sponsor for Fuerza Azul, a resource group that supports the Latino Community at Blue Cross and Blue Shield of Minnesota.

About SelectAccount
MII Life, Inc., d.b.a., SelectAccount, is a Minnesota-licensed insurance company regulated by the Minnesota Department of Commerce, and approved by the U.S. Department of Treasury as a non-bank HSA Trustee. An affiliated company of Blue Cross and Blue Shield of Minnesota, SelectAccount is owned by Aware Integrated, Inc. For more than 20 years, SelectAccount has offered innovative and industry-leading spending accounts. Today, SelectAccount provides health care saving solutions in all 50 states, including service to members through 14 regional health plans and nearly 7,000 employers. SelectAccount now has approximately $400 million in consumer medical savings assets under management, making it among the largest account administrators in the country. Visit selectaccount.com to learn more.

For more information:

Barbara Tabor, APR
651-230-9192
barb_tabor@selectaccount.com