There are certain events in life for which credit unions and their members know they must prepare. Since 2003, credit unions have been adding health savings accounts to help members and select employee group employers deal with death, taxes, health care and health insurance' rising costs. Created as part of the 2003 Medicare Bill and expanded by new provisions in the 2006 Tax Relief and Health Care Act, HSAs are a way for people to save tax-free for future qualified medical and health expenses. Credit unions today are a new but growing choice for consumers seeking HSAs; less than a fourth of credit unions offer HSAs. Those that do expanded into HSAs recently, often in response to member requests, as a SEG moved to a high-deductible health plan, and are just now starting to market them more aggressively. Indeed, competition for HSAs is already stiff.
HEALTHY SAVINGS Credit unions find ways to offer health savings accounts, helping both members and SEG employers. BY KRISTIN GILPATRICK here are
Pages to are hidden for
"HEALTHY SAVINGS"Please download to view full document