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HSA Bank expands product suite.

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

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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 www.hsabank.com.

1 USD = .59 GBP

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Publication:M2 Banking & Credit News (BCN)
Date:Apr 24, 2014
Words:207
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