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Banks, Trustees
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IN BRIEF: METAVANTE; TRIZETTO; STERLING
Bridgeview Bank Group (Bridgeview, IL) will use HSA technology from Metavante Corp. (Milwaukee), a division of Marshall & Ilsley Corp., which provides HSA account processing, checks and debit cards, online and phone access to account information, management of investment options and regulatory reporting.
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AMERICAN BANK OFFERS HSAs WITH 3% INTEREST
American Bank (Allentown, PA) said it is offering HSAs with 3% annual interest on balances of $1000 or more. American is also offering no maintenance fees and free checking.
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HSA BANK ACCOUNT HOLDERS ARE SAVING, DATA SHOWS
HSA Bank, a division of Webster Bank N.A. (Waterbury, CT), reported that as of the third quarter of 2005 it had 127,000 HSA accounts with more than $200 million in deposits, plus another $15 million in brokerage accounts.
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FIRST NIAGARA OFFERS HSAs
First Niagara (Lockport, NY) announced that it has introduced HSAs, targeting individuals already enrolled in high deductible health plans from Blue Cross Blue Shield of Western New York, Independent Health, and Excellus. First Niagara also has an insurance subsidiary, First Niagara Risk Management, which can enroll consumers in high deductible health plans.
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PLASTIC TO DOMINATE HSA PAYMENTS, STUDY SAYS
According to projections from Tower Group (Needham, MA) 71% of all FSAs, HSAs and RAs will be used in conjunction with plastic payment cards—such as debit or credit cards—by 2010.
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GOLDEN RULE HSA DEPOSITS HIT $142 MM
Golden Rule Insurance Co. (Indianapolis), a division of UnitedHealth Group, reported that its HSA plan members have more than $142 million in their health savings accounts.
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BCBS PLANS TO LAUNCH HSA, HRA BANK
The battle lines are clearly being drawn between managed care organizations and financial institutions over the future of healthcare as the Blue Cross Blue Shield Assn. (Chicago) announced that its member organizations have approved the launch of a bank to serve people enrolled in HSAs, HRAs, and FSAs.
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