Navigation Links
Wells Fargo Health Savings Accounts Grow to Quarter-Billion Dollars
Date:5/19/2008

Tax changes drive increased deposits

MINNEAPOLIS, May 19 /PRNewswire-FirstCall/ -- Wells Fargo & Company (NYSE: WFC) said today that Health Savings Accounts (HSAs) deposits increased 41 percent year to date, totaling more than a quarter-billion dollars for the first time.

Wells Fargo Health Benefit Services reported that more than 150,000 account holders -- many of whom took advantage of higher 2007 contribution limits before the April 15 deadline -- now hold $264 million in HSA deposits.

"Tax law changes helped consumers understand contribution limits and really drove these large deposit increases," said Jose Becquer, head of Wells Fargo Health Benefit Services. "Now our customers feel like they can use an HSA to meet today's health care needs and prepare for tomorrow."

HSAs, created as part of the Medicare Prescription Drug, Improvement and Modernization Act of 2003, help individuals manage their health care spending and save pretax dollars for future medical expenses. Accounts are open to consumers who are enrolled in a high-deductible health plan, either individually or through employers.

"Wells Fargo was among the first to offer HSAs, so we have the experience to help individuals and employers take full advantage of their expanded benefits," said Becquer.

Wells Fargo Health Benefit Services (HBS), a division of Wells Fargo Bank, N.A., is a premier provider of health and wealth management solutions for companies across the nation. Headed by Jose Becquer in the Wholesale Services Group, HBS helps companies provide tax-advantaged health care solutions for their employees. With a national service center in Salt Lake City, HBS began offering health savings accounts (HSAs) in 2004 and holds more than $260 million on deposit for 150,000 account holders. Learn more at http://www.wellsfargo.com/hsa.

Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."


'/>"/>
SOURCE Wells Fargo & Company
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Wells Fargo Offers Online Benefit Administration for Business and Individual Healthcare Consumers
2. DaVita to Open First Independent Dialysis Clinic in Fargo-Moorhead
3. Penn study finds pro-death proteins required to regulate healthy immune function
4. UCLA researchers identify markers that may predict diabetes in still-healthy people
5. Air pollution linked to cardiovascular risk indices in healthy young adults
6. More proof needed of safety and quality of electronic personal health records
7. Health care incentive model offers collaborative approach
8. Loneliness is bad for your health
9. Mailman School of Public Health study examines link between racial discrimination and substance use
10. Green Tea May Brew Up Healthier Skin
11. For Health Info, Women Often Turn to the Web
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/23/2017)... ... 23, 2017 , ... TSC Advantage has been awarded Gold ... Solution Innovations and Security Solution for Government Innovations. Both gold awards recognize TSC ... DHS SAFETY Act-designated enterprise security assessment approach. , The ninth annual Golden Bridge ...
(Date:8/22/2017)... ... 2017 , ... The Women’s Choice Award, a growing platform that gives a ... Women’s Choice Award. The identification by women of an effective new migraine relief ... are women. In a survey taken by the Women’s Choice Award organization, nine out ...
(Date:8/22/2017)... ... August 22, 2017 , ... Each of the past six years, Lightning Labels has ... of these labels and stickers, demonstrating the variety and creativity of their designs. Submissions this ... images came in. Now, it's time to announce the winners of the sixth annual Photo ...
(Date:8/22/2017)... ... August 22, 2017 , ... “To Walk Away”: a captivating and romantic ... Edward Koontz. “To Walk Away” is the creation of published author, Larry R. Sherman, ... hundred manuscripts in chemistry and religion, as well as four novels. , Though ...
(Date:8/22/2017)... ... , ... “Glimpses Of Light”: is a unique and thought inspiring guide ... creation of published author, J.M. Shepherd, a writer, teacher, traveler, and metaphysician, the author ... , Shepherd shares, “Love is one of the least understood and yet most sought-after ...
Breaking Medicine News(10 mins):
(Date:8/17/2017)... EWING, N.J. , Aug. 17, 2017 Bio-Ess Laboratories, LLC ... to increase antibody titer and present new data on Cell-Ess® ... in Boston, MA August 21-25.  The Bioprocessing ... for today,s bioprocess challenges. ... Boost and Optimizer ...
(Date:8/15/2017)... , Aug. 15, 2017  AOTI Inc. announced today that ... Therapy Inc., has recently opened a New York City Office in ... usage of its unique Topical Wound Oxygen (TWO 2 ) homecare ... the Accreditation Commission for Health Care (ACHC) under the company,s DMEPOS ... ...
(Date:8/8/2017)... Second-quarter 2017 revenues of $876 million and ... operations Second-quarter 2017 Branded ... Second-quarter 2017 Sterile Injectables ... Second-quarter 2017 adjusted diluted earnings per ... $0.93 Second-quarter 2017 reported ...
Breaking Medicine Technology: