Healthcare Shopper News

For the informed consumer of health care

Banks scramble to offer HSAs

Acceptance of HSA plans has financial institutions racing for a piece of the action. Here's why:

* Each month HSA administrators add 60,000 new accounts.
* Americans have banked nearly $1 billion in HSAs
* The average balance in HSA accounts is $1,181
* 60% of individuals with HSA qualified insurance have opened an HSA

As a consequence, it's easier to find banks and other financial institutions that offer HSAs now compared to a year ago. To see if your bank offers HSAs, try Googling "bank name and HSA". If you call your bank and ask, the person who answers the phone will probably be clueless about HSAs.

Posted by Phil Daigle on September 1, 2006 1:33 PM
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