The banking industry, looking to increase its role as a distributor of health care savings accounts, has formed a new group to work toward that goal.[@@]
The American Bankers Association and the American Bankers Insurance Association, Washington, today announced the formation of the HSA Council, a consortium of banks, insurers and technology companies working to increase the distribution of HSAs through banks.
“As the number of Americans choosing HSAs increases, demand for the flexible, integrated tools necessary to manage HSA accounts will increase with it,” says E. Craig Keohan, chairman of the HSA Council. “Banks are in a unique position to assist consumers in their efforts to save for their future medical needs now and through retirement.”
Keohan is president of First Horizon Msaver, a division of First Horizon National Corporation, Memphis, Tenn.