HSA Participants

HSAs have grown in popularity during 2006, only their third year in existence. A recent Information Strategies Survey predicted that by January 2007, we should see about 3.6 million HSAs with over $5.2 billion in assets.

In August, the IRS released an updated list of approved non-bank trustees and custodians for HSAs and other purposes. Banks are automatically approved. Included on the list is Charles Schwab & Co., Inc., which has been approved since 1982. Schwab is the custodian/trustee of the HSA product offered by Infinisource.

Infinisource offers two innovative Health Savings Account options, which are powered by Alliance Benefit Group. The Standard HSA is designed for investing and the Premium HSA is designed for spending, yet still offers investment options. Infinisource HSAs include:

• 11 investment options
• Online account investment tools
• ACH/check reimbursement
• Electronic data transfers that quickly updates accounts
• Debit card (available with certain plans)
• No paper substantiation/adjudication by vendor
• Employee, self-serve, online account management
• Customer support through Infinisource and Alliance

For employers, the Infinisource difference is flexibility. Infinisource HSAs are not tied to any specific high deductible health plan, so employers have the freedom to change their primary health plan and keep their HSA plan.