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HSA Bank's Group Online Enrollment Option Jumps in Popularity
Date:4/30/2008

WATERBURY, Conn., April 30 /PRNewswire-FirstCall/ -- HSA Bank(R), a division of Webster Bank, N.A., a subsidiary of Webster Financial Corporation (NYSE: WBS), announced today that more accountholders enrolled in a health savings account (HSA) using HSA Bank's Group Online Enrollment option than its paper application option in the first quarter of 2008. Over the first three months of this year, the percentage of all applications that were processed through HSA Bank's Group Online Enrollment option jumped to 40.6 percent, which represents an 11.5 percent increase from the first quarter of 2007.

The first quarter of 2008 marks the first time that any of HSA Bank's other enrollment options surpassed paper applications. HSA Bank offers four enrollment methods: Individual Online Enrollment (14.6 percent), Group Online Enrollment (40.6 percent), Electronic Enrollment (5.2 percent) and Paper Applications (39.6 percent).

"People are very busy, and they don't want to spend extra time completing paperwork to enroll in an HSA," said Kirk Hoewisch, president of HSA Bank. "Our Group Online Enrollment option allows people to enroll in their HSA quickly and conveniently at the same time they are enrolling for their other employer-sponsored benefits."

HSA Bank's Group Online Enrollment option has grown in popularity each year since it was first offered in October 2005. Group Online Enrollment allows the employer to send its employees a customized link to enroll in the HSA. Currently, nearly 2,300 employers use this option, including UHS-Pruitt, a privately-owned company with more than 16,000 employees.

"HSA Bank's Group Online Enrollment system allowed us to manage effectively our employees' HSA enrollment by ensuring timely ent
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SOURCE HSA Bank
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