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HSA Bank To Manage HSAs For CoreSource Clients

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NU Online News Service, Nov. 17, 2004, 2:32 p.m. EST

An Illinois benefits administrator has asked a Wisconsin health account pioneer to manage clients’ employee health accounts.[@@]

CoreSource, Lake Forest, Ill., has agreed to refer employers who hire it to run their health savings account programs to HSA Bank, Howards Grove, Wis., for HSA management services.

HSA Bank, an arm of State Bank of Howards Grove that was a major manager of the old medical savings accounts, will provide check and debit card access for holders of the HSAs along with a menu of more than 6,000 investment options.

CoreSource is a unit of Trustmark Mutual Holding Company, Lake Forest, Ill.

HSA Bank is in the process of being acquired by Webster Financial Corp., Waterbury, Conn.