Assurant Health Announces Additional Enhancements to Health Savings Accounts; Additional Tools Give HSA Owners Expanded Control of Health Care and Financing.MILWAUKEE -- Assurant Health, a consumer choice health care leader and provider of the country's first Health Savings Account A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. (HSA HSA Health Savings Account (US) HSA Human Serum Albumin HSA Human Services Agency (Nevada) HSA Health Services Agency HSA Health and Safety Authority (Ireland) ), today announces additional enhancements to their Individual and Small Group HSA product offering. Last year, the company unveiled HSA Tools, which provided HSA owners with the ability to manage account transactions with an integrated, secure website, as well as debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and checkbook. HSA Tools also provides comprehensive health information, quality data and self-diagnostic tools via the internet. Now, Assurant Health HSA owners will be able to invest in mutual funds, establish recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. automatic deposits from their checking or savings account Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: into their HSA, and access detailed information on prescription drugs prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, . "Easy access to tools and information is vital to making HSAs a practical health care solution for individuals, families and employers," said Assurant Health Senior Vice President-Development, Group Markets, Mike Kellen. "Assurant Health is committed to continually improving and enhancing our HSA product, always being responsive to the needs of our HSA owners." This latest release of Assurant Health HSA Tools addresses the trend of HSA owners using their accounts as retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. vehicles. "The tax favorability of HSAs, both on the federal level as well as in many states, makes them a great way for individuals to save for retirement," said Kellen. "It only makes sense to provide HSA owners with investment tools that may help grow their accounts." The mutual fund families that will now be available to HSA owners include AIM, Federated Connected and treated as one. See federated database and federated directories. , Fidelity, Franklin Templeton Investments Franklin Resources Inc. NYSE: BEN is an investment firm originally founded in New York in 1947 as Franklin Distributors, Inc. It is listed on the NYSE under the ticker BEN as in Benjamin Franklin, whom founder Charlie Johnson admired. , OppenheimerFunds, UMB (1) (Upper Memory Block) See UMA. (2) (Ultra Mobile Broadband) See 3GPP. 1. UMB - Upper Memory Block. 2. UMB - A university(?). Scout and others. In addition, HSA Tools now also provides expanded account management capabilities with the option to set up monthly automatic deposits from personal checking or savings accounts into HSAs. Additional checks and debit cards can now be ordered online as well. HSA Tools has also increased access to health information online with Subimo's PharmaAdvisor(TM). Found on the HSA Tools website, PharmaAdvisor provides detailed pharmacy information on a wide range of medical conditions See carpal tunnel syndrome, computer vision syndrome, dry eyes and deep vein thrombosis. and allows users to learn more about treatments and compare available drugs. Users can also manage their prescriptions by comparing costs, side effects Side effects Effects of a proposed project on other parts of the firm. , efficacy and dosage. PharmaAdvisor also provides information on possible drug interaction with other medications and will even create a customized list of questions consumers can ask their physicians. To offer these extensive enhancements to HSA Tools, Assurant Health continues its relationships with outside companies, all highly regarded as experts in their fields:
-- UMB Bank, n.a. (NASDAQ:UMBF) (www.umb.com) serves as
custodian, offering access to the mutual funds though UMB
Scout Brokerage Services, Inc., and, along with First Data
Corporation (NYSE:FDC) (www.firstdata.com), supports the debit
card access, transaction processing and production for
Assurant Health's HSAs. UMB has been offering Medical Savings
Accounts (MSAs) and flexible spending cards since 1996. In
addition to health care card solutions, UMB offers banking and
related financial services to individuals and businesses
nationwide. FDC is a leader in transaction processing
functionality. UMB and FDC have a long history of successful
partnership. The HSA product is insured by the FDIC. However,
products offered through UMB Scout Brokerage Services, Inc.,
Member NASD, SIPC, are not insured by the FDIC, they are not a
deposit of, or guaranteed by, the Bank, and they are subject
to investment risks, including the possible loss of principal
invested.
-- Amisys Synertech Inc. (ASI) (www.asihealth.com) and Choicelinx
Corporation (www.choicelinx.com) partner to provide the
website capabilities of account management and health
information access. ASI serves as the enrollment conduit
between Assurant Health and the account custodian. ASI also
provides HSA administration and customer support services. ASI
excels in delivering in-depth information management software
products and services to the health plan industry and has more
than five years of experience serving the consumer-directed
market. Choicelinx is a benefits technology and services
company specializing in internet tools to support
consumer-focused benefits products.
"HSAs are creating an environment where people have real control of their health care and financing," said Kellen. "At Assurant Health, we're proud of the role we're playing in continuing to empower Americans to get the care they need at the right price." For more information on Assurant Health HSAs, visit www.assuranthealth.com. About Assurant Health In business since 1892, Assurant Health provides health insurance coverage for more than one million people nationwide. Assurant Health develops and provides a wide range of individual medical, small group, short term and student health insurance products, including consumer-choice products such as HSAs and HRAs. With almost 3,000 employees, Assurant Health is headquartered in Milwaukee, Wis., and has operations offices in Minnesota, Idaho, and Florida, as well as sales offices across the country. Assurant Health products are issued and underwritten by Fortis Insurance Co., John Alden John Alden (1599?–September 22 1687) was one of the Pilgrims who emigrated to America in 1620 on the Mayflower and founded the Plymouth Colony. He was originally hired by William Bradford and others to be their cooper. Life Insurance Co., and Fortis Benefits Insurance Co. Assurant Health is found at www.assuranthealth.com. Assurant Health is part of Assurant, a premier provider of specialized insurance products and related services in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and selected other markets. Its four key businesses -- Assurant Employee Benefits; Assurant Health; Assurant Preneed; and Assurant Solutions -- have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments in the U.S. and selected international markets. Assurant, which is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol AIZ AIZ Lake of the Ozarks, Missouri (Lee C. Fine Memorial Airport) AIZ Air Intercept Zone AIZ Anti Imperialistische Zelle(n) (German: Anti-Imperialistic Cell; now defunct terrorist group) , has over $20 billion in assets and $7 billion in annual revenue. www.assurant.com. |
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