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December 21, 2005
American Express Enters the Health Savings Account Market
Some in Washington, D.C. consider the entry of American Express into the Health Savings Account market to be one of the most important events in the Health Savings Account industry this year.
American Express branding, and there debit card offering certainly is another example of the U.S. financial industry entering the U.S. health care market with new products.
Allowing a credit line to be utilized first, to keep the Health Savings Account funds growing in size as an investment fund, has significant long-term implications for the number of assets in HSAs, should this model be adopted nationally.
Empire Blue's American Express Card for HSA Offers Credit Options.
Under an innovative feature, employees could apply for a credit line so the card could be used to pay for expenses that exceed their HSA balances.
More details on American Express soon.
Posted by Wiley Long at December 21, 2005 12:47 PM