PayFlex Systems USA, Inc. has introduced a new health savings account that lets employers deposit HSA funds in the bank of their choice.

HSAs, which are tax-advantaged investment accounts available with high-deductible health plans, are usually offered only through a single bank, notes PayFlex, Omaha, Neb., a third-party benefits administrator.

PayFlex HSA offers account investment and reimbursement payment systems, including employee debit cards to access funds. It also offers account reconciliation, an account investment program, an integrated reimbursement payment system and a simple Web interface, PayFlex says.