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September 05, 2008
OptumHealth Bank Reaches Health Savings Account Deposit Milestone
OptumHealth Bank has announced that it has reached more than $600 million in Health Savings Account deposits, a significant industry milestone.
"OptumHealth Bank has achieved this milestone as a result of a nearly 50 percent increase in Health Savings Account assets from one year ago, as more and more consumers choose Health Savings Accounts to help them plan, save and pay for their health care," says Kelvin Anderson, president, OptumHealth Bank. "Deposits, investments and health care spending all increased substantially even during a time of economic stress and uncertainty – a testament to the foresight of individuals who understand the value of Health Savings Accounts and the need to manage their health care money wisely."
OptumHealth Bank provides value to its customers through three types of HSA accounts that meet the varying spending and savings patterns of its account holders. Individuals can select a basic, low-cost account or choose from interest-bearing accounts that also offer mutual fund investments for long-term savers. Offered in conjunction with high-deductible health care plans, Health Savings Accounts allow individuals to save for current and future medical expenses on a tax-free basis. Deposits can be made tax free, they grow tax deferred, and account holders don’t pay income tax on withdrawals used for qualified medical expenses.
OptumHealth Bank is part of the financial services unit of the nation’s largest health and wellness company, OptumHealth. In addition to Health Savings Accounts, OptumHealth Financial Services provides tax-advantaged accounts for health care savings and spending, innovative medical and debit card technology, benefits administration services and print and electronic payables solutions for the health care industry. It includes Administration Resources Corp., a leading third-party benefits administrator.
You can find a comprehensive list of HSA Administrators at: http://www.health--savings--accounts.com
Posted by Wiley Long at September 5, 2008 02:26 PM