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:2/12/2016)... ... February 12, 2016 , ... Young ... area, celebrates the beginning of the latest charity campaign in their community enrichment ... art. Donations to this worthy cause are currently being accepted at: http://artexpressioninc.org/ ...
(Date:2/12/2016)... FLA (PRWEB) , ... February 12, 2016 , ... Miami ... dental implants to their Miami dental office. Beginning in January, Miami Dental Specialists ... titanium. Miami Dental Specialists are the first office to be chosen by the dental ...
(Date:2/12/2016)... ... 12, 2016 , ... J Thomas & Associates Insurance Agency, ... to act as Agents of Change in the community, announces a new partnership ... to fulfill immediate needs and help them move into permanent housing. Donations to ...
(Date:2/12/2016)... (PRWEB) , ... February 12, 2016 , ... ... article about foods choices that promote eye health. These articles generally list between ... Water and health advocate Sharon Kleyne endorses every one of these lists and ...
(Date:2/12/2016)... ... 12, 2016 , ... Homeowners now have a next generation ... America‚Äôs leading brand of building products, has improved upon its industry-best array of ... version of the ColorView® Exterior Style and Color Selector. Created expressly for the ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... , Feb. 11, 2016 The primary goal ... future adoption patterns on the usage of liquid biopsy. ... following: - Timeframe of liquid biopsy adoption ... cfDNA and Evs—by organization type - Sample inflow to ... blood, saliva, stool, serum, and so on. - Correlation ...
(Date:2/11/2016)... NEW YORK , Feb. 11, 2016 ... and instruments commonly used in laboratories. These may range ... scale condensers. Laboratory glassware is made from borosilicate glass ... shock. Laboratory plasticware, on the other hand, started gaining ... that it was easier to replace glass with plastic ...
(Date:2/11/2016)... , Feb. 11, 2016  Governor Andrew M. Cuomo ... create 1,400 jobs throughout Western New York ... with the SUNY Polytechnic Institute, includes a major expansion ... in Buffalo , as well as ... facility in Dunkirk . The combined ...
Breaking Medicine Technology: