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Banks, Trustees
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LOCAL BANKS EAGER TO ATTRACT HSA BUSINESS
While most of the nation’s largest 15 banks still lack an HSA product (see story, this issue), a variety of other banks—including local and regional institutions—have offered HSAs from the start, attempting to attract customers with competitive interest rates and low fees.
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HEALTH SAVINGS ADMINISTRATORS TAPS VANGUARD
Health Savings Administrators (Richmond, VA), one of many small HSA administrators around the nation, has begun offering account holders 15 no-load mutual funds from the Vanguard Group (Valley Forge, PA) for both groups and individuals.
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HSA BANK LANDS PACIFICSOURCE, GEHA
HSA Bank (Howards Grove, WI) announced that it will act as trustee and administrator for health savings accounts tied to high-deductible health plans from PacificSource Health Plans (Eugene, OR) and the Government Employees Hospital Assn.
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WEBSTER FINANCIAL TO ACQUIRE HSA BANK
Webster Financial Corp. (Waterbury, CT) has staked its claim to be a major player in the health savings account market, signing a definitive agreement to acquire Eastern Wisconsin Bancshares, the holding company for State Bank of Howards Grove (Howards Grove, IL), which does business as HSA Bank, for $26 million in cash.
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MOST TOP BANKS LACK HSA OFFERINGS
Most of the nation’s largest banks still aren’t offering health savings accounts, a fact that industry observers say will slow adoption of high- deductible health plans, according to an HMN round-up.
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