Arlington, VA (PRWEB) June 20, 2006
National Rural Electrical Cooperative Association (NRECA) the national service organization dedicated to representing the national interests of rural cooperative electric utilities and the consumers they serve, today announced it has signed an agreement to rollout a program with First Horizon Msaver (http://www.firsthorizonmsaver.com), Inc., one of the nation’s top administrators of Health Savings Accounts (HSA) offering health care financial services and solutions to health plans, employers, self-funded employers, and insurance brokers and consultants throughout the U.S.
Under the terms of the agreement, employees of NRECA’s more than 1,100 consumer-owned cooperatives in 50 states who select an HSA-qualified high deductible health plan option during their next employee benefit open enrollment period will be offered a First Horizon HSA account – a special interest-bearing account that will help them more effectively save money for medical expenses.
Jon Anderson, Director of New Business and Market Research with NRECA commented, “By partnering with First Horizon Msaver, we have the ability to offer our member organizations the advantages of a high deductible health plan coupled with a quality HSA product. Employees may choose to enroll in one of three high-deductible health plans, and can then open their HSA account in a single online session. This eliminates many of the problems and follow-up issues created with paper-based enrollment processes.”
In a related phase of the program, NRECA’s membership will gain access to a funding portal which simplifies and accelerates the process of depositing employee and/or employer contributions into individual employee First Horizon HSA accounts.
"Our emerging online technology and world class customer service fits the needs of the NRECA members' extremely well,” said E. Craig Keohan, President of First Horizon Msaver. “We are pleased and honored to have been chosen as their HSA custodian and look forward to our partnership."
NRECA is a national service association representing the interests of more than 1,100 consumer-owned cooperative electric utilities located in all 50 states and employing more than 80,000 persons. NRECA provides legislative, legal and regulatory services through the dues-supported revenues as well as fee-based services associated with group insurance, pension, employee benefits/compensation, savings/investments, strategic analysis, market research, training and certification, energy consulting, market development, public relations and advertising. NRECA and its member cooperatives also support electric utility-specific and environmental research and administer a program of technical advice and assistance with the electrification of developing countries around the world.
For more information about NRECA, please visit the company's Web site at http://www.nreca.coop
About First Horizon Msaver, Inc.
First Horizon Msaver, Inc., is a leader in the servicing of Health Savings Accounts, and is a member of the First Horizon National Corp. (FHN) family of companies that provides financial services to business customers and individuals nationwide. With first-to-market technology like electronic enrollment, Banking Online, Online Bill Pay, investment options, and a dedicated HSA Customer Care Center, First Horizon Msaver is helping thousands of Americans get the most out of their tax-favored HSAs.
FHN companies have been recognized as some of the nation’s best employers by AARP, Working Mother and Fortune magazines. FHN also was named one of the nation’s 100 best corporate citizens by Business Ethics magazine. More information can be found at http://www.fhnc.com.
First Horizon Msaver, Inc.