Individual plan participants will enjoy similar advantages to using the Wells Fargo Health Account Manager(SM) online at https://healthbenefits.wellsfargo.com. Using leading edge technology and sophisticated encryption, individuals with high deductible health plans and investment accounts can view detailed account activity, set up or change their direct deposit account, monitor debit card or claim activity, download forms, and access benefit calculators to model outcomes of investment strategies.
Created in 2004, Health Savings Accounts (HSAs) are tax-advantaged investment savings accounts for individuals participating in high deductible health plans. They can help employers reduce company expenses, offer a better benefits package to employees and provide them with added flexibility, choice and tax advantages -- ensuring stability for future health expenses. In 2006, Congress enacted changes to HSAs to make them more attractive to investors, including increased annual contribution limits, simplified contribution rules for mid-year enrollees, and tax-free transfers from an IRA.
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 holds more than $165 million on deposit for 125,000 account holders, and specializes in the administration of:
-- Health savings accounts (HSAs)
-- Flexible spending accounts (FSAs)
-- Health reimbursement arrangements (HRAs)
|SOURCE Wells Fargo & Company|
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