Printer Friendly

HSA Bank expands product suite.

BANKING AND CREDIT NEWS-April 24, 2014--HSA Bank expands product suite


24 April 2014 -- Wisconsin US-based Webster Bank NA's (NYSE: WBS)HSA Bank health savings account division said it has expanded its product suite.

Beginning May 1, 2014, HSA Bank will offer more choices for consumers to save and pay for healthcare, dependent care, and commuter expenses on a pre-tax basis.

Working with benefit technology partner Evolution1, an electronic payment healthcare solution, HSA Bank is offering Health Reimbursement Arrangements, Flexible Spending Accounts including Health & Dependent Care FSAs, and Commuter Benefits plans in addition to its industry-leading HSA.

HSAs are created at financial institutions, in the individuals' names, allowing them to pay for IRS-qualified medical expenses tax-free.

They are employer-owned and funded tax-advantaged accounts which reimburse employees for out-of-pocket medical expenses as defined by the employer.

FSAs are tax-advantaged accounts established through an employer to pay for various healthcare and dependent care, not covered for by another plan. Commuter Benefits plans enable employees to set aside money tax free to pay for eligible workplace parking and mass transit expenses.

Find out more at

1 USD = .59 GBP

((Comments on this story may be sent to

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Apr 24, 2014
Previous Article:Republic First Bancorp closes USD 45m private placement.
Next Article:Mexico LEI down in February.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters