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Bank Adds Mutual Funds

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A financial services arm of UnitedHealth Group Inc. will be offering new investment options for holders of health savings accounts.[@@]

UnitedHealth, Minnetonka, Minn., formed Exante Financial Services, an industrial loan corporation chartered in Utah, to administer HSAs and other personal health accounts for its own customers and for customers of other health insurers and health plan administrators.

Exante says it now administers more than 700,000 personal health accounts.

Exante now is adding access to a broad menu of mutual funds for HSA holders with balances of at least $1,000, Exante says.

Fund options will include well-known funds such as the John Hancock Classic Value fund, the Vanguard Wellington fund and the Pimco Real Return Fund, Exante says.