Free Submission Public Relations & NewsPR-inside.com
 
DeutschEnglish

Get the latest news
with our RSS feed
rss feed
Add to My Yahoo!
More information
Business

OptumHealth Bank Surpasses $600 Million in Health Savings Account Deposits


Print article Print article
Refer this article Refer to a friend
© Business Wire 2008
2008-08-22 00:18:02 -

- OptumHealth Brad Lotterman Senior Manager, External Communications 714-445-0453 brad.lotterman@optumhealth.com OptumHealth Bank(SM), Member FDIC, announced today that it reached more than $600 million in health savings account (HSA) deposits, a significant industry milestone.

"OptumHealth Bank has achieved this milestone as a result of a nearly 50 percent increase in HSA assets from one year ago, as more

and more consumers choose HSAs 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 HSAs 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, HSAs 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 HSAs, 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.

About OptumHealth

OptumHealth helps individuals navigate the health care system, finance their health care needs and achieve their health and well-being goals. The company's personalized health advocacy and engagement programs tap a unique combination of capabilities that encompass care solutions, behavioral solutions, specialty benefits and financial services. Serving more than 61 million people, OptumHealth is the nation's largest health and wellness business and is a UnitedHealth Group (NYSE:UNH) company. More information about OptumHealth can be found at www.OptumHealth.com.

Investments are not FDIC-insured, are not guaranteed by OptumHealth Bank, and may lose value.

Popularity of HSAs in Helping Consumers Plan, Save and Pay for
Health Care Fuels near 50 Percent Increase


Disclaimer: (c) 2007 Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.


Terms & Conditions | About us | Contact PR-inside.com