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HSA Market Report

Banks, Trustees

FIRST HSA TAPS HEALTH SAVINGS TECHNOLOGY
First HSA (Reading, PA) will use connectivity software from Health Savings Technology (Irving, CA) to power the company’s online consumer-directed administrative portal.

IRS SAYS FSA, HRA ROLLOVERS MUST BE TO HSA TRUSTEE
The Internal Revenue Service clarified the rules regarding the rollover of HRAs and FSAs into HSAs, stating that the rollovers must be made directly to the custodian or trustee of the HSA.

BCBS BANK PUBLISHES FEES, RATES
The Blue Cross Blue Shield Assn. (Washington), which recently received its charter to operate Blue Healthcare Bank (Sandy, UT) for healthcare-related accounts, including HSAs, HRAs and FSAs, will charge an HSA set-up fee of $10 for online setup, plus a monthly maintenance fee of $3.

24 BANKS HAVE $1.5 BB IN HSA DEPOSITS
Twenty-four leading banks had 1.152 million health savings accounts with an estimated $1.479 billion in total deposits as of Dec. 30, 2006, according to a tally by HMN.


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