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UMB To Manage Assurant HSA Assets

By Staff Writer

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NU Online News Service, Nov. 16, 2004, 4:32 p.m. EST

A Wisconsin health insurer will be teaming with a Missouri bank to sell individual and small group health savings account products.[@@]

Assurant Health, Milwaukee, is entering the HSA market with UMB Financial Corp., Kansas City, Mo.

The Assurant HSA plans will offer high-deductible health coverage from Assurant along with bank accounts from UMB. Account management tools will include a secure Web site, a debit card and a checkbook.

Assurant Health is a unit of Assurant Inc., New York, and UMB is the parent of United Missouri Bank.

A third company, First Data Corp., Denver, will be running the debit card system.