If the HSA is offered in an "inseparable" package with the medical insurance provider doing the "stop gap policy" they may pay you less than competitive interest to protect their profits.
A stand alone HSA savings vehicle may give you better results.
Of course the only way to know is to shop around to see what's best for your Health Savings Account.
Here's a good resource for that.
From PRWeb
Northwest Bank announced today they have launched HSAGeorgia.com, adding more educational materials to their already successful Health Savings Account program.
"Since more and more of our customers are switching to the new consumer directed health plans, we know it is essential to offer an educational website where they will find answers to their questions as well as tips on using Health Savings Accounts to their fullest advantage," Scott Smith President of Northwest Bank announced today. "Working with HSA Clearing Corp, our new website, HSAGeorgia.com, has been designed with up-to-date answers to people's questions about HSAs and also with the specifics about our HSA program."
Legislation enabling the tax-advantaged Health Savings Accounts was included with the Medicare Act of 2003, and contribution amounts were recently expanded with passage of the "Tax Relief and Health Care Act of 2006". The new law allows individuals with HSA-qualified health insurance policies to contribute up to $5,650 for family coverage and $2,850 for those with self-only coverage for 2007. For 2008 these numbers increase to $5,800 and $2,900 respectively. HSA account holders age 55 and older may make an additional "catch-up" contribution of $800 for 2007.
"We are pleased to have Northwest Bank join our growing team of financial institutions across the country offering HSAs", said Roy Ramthun Senior VP of HSA Clearing Corp. "Northwest Bank is providing an affordable, independent Health Savings Account for their customers, no matter which insurance carrier they choose or where they live."
For individuals or insurance agents looking for more information on Northwest Bank's Health Savings Account program, visit www.hsageorgia.com or call Teena Harris at 706-965-3000.
HSA Clearing Corp is the nationwide leader in setting up banks and credit unions to offer Health Savings Accounts/HSAs with their turnkey HSA setup program, allowing the HSA monies to be deposited locally to better benefit communities. For more information on their cost- effective HSA program, contact HSA Clearing Corp at 262-348-1300, or visit www.HSAClearing.com.
