Health Savings Accounts Continue to Grow: Reports HSA Clearing Corp
"Our financial institutions are reporting exciting growth both in new HSA accounts and in deposit growth," said Tim Morales, President of HSA Clearing Crop. "HSA deposit growth has taken off because of passage of the HSA provision that was in the Tax Relief and Health Care Act of 2006. The new law allows people to fully fund their HSA contribution, for the full year, even if they purchase their high deductible health plan midyear, rather than prorate as in previous years."
Lake Geneva, WI (PRWEB) October 2, 2007 -- HSA Clearing Corp, the leading Health Savings Account turn-key setup provider for banks and credit unions reports their clients HSA programs continue to grow.
"Our financial institutions are reporting exciting growth both in new HSA accounts and in deposit growth," said Tim Morales, President of HSA Clearing Crop. "HSA deposit growth has taken off because of passage of the HSA provision that was in the Tax Relief and Health Care Act of 2006. The new law allows people to fully fund their HSA contribution, for the full year, even if they purchase their high deductible health plan midyear, rather than prorate as in previous years. With the 2008 open enrollment season kicking off interest in high deductible health plans will continue to grow. For bankers offering an HSA program is the fastest way to grow new deposits and their customer base."
HSA Clearing Corp clients are reporting capturing new HSA business from their existing business accounts, a school district, municipalities, individuals and receiving HSA rollovers from existing clients that had already set up an HSA else where have now found out they can bank locally.
HSA Clearing Corp has recently upgraded their HSA educational websites they provide their bank and credit union clients, to include providing online HSA applications. The online HSA application can be personalized for tracking of groups or agent referrals. This helps speed up the application process, an added convenience for people looking for an HSA provider.
For more information HSA Clearing's turn-key HSA package can help your bank or credit unions offer Health Savings Accounts, contact HSA Clearing Corp, at 262-348-1300 or visit their website at www.hsaclearing.com and watch "The Future of HSAs".
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