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UMB Adds HSA Mutual Fund Service

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A broker-dealer subsidiary of UMB Financial Corp. has started offering mutual funds to consumers who use UMB’s health savings accounts.[@@]

UMB, Kansas City, Mo., markets HSA custody services through the health insurers that sell HSA-compatible high-deductible health insurance.

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One major health insurer partner, Assurant Health, a unit of Assurant Inc., New York, already has announced plans to make the UMB mutual fund program available to its HSA customers, UMB says.