WATERBURY, Conn., Aug. 8 /PRNewswire/ -- HSA Bank(TM), a division of Webster Bank, N.A., a subsidiary of Webster Financial Corporation , announced today that its accountholders' average balances have increased by more than $350 to nearly $1,940 during the first six months of 2006. HSA Bank attributes the increase in balances to both a greater number of accountholders saving their HSA funds and an increased level of contributions to individual accounts.
In the first six months of 2006, nearly 52 percent of accountholders saved at least half of their HSA contributions. The average contribution surpassed the average distribution in 2006 by more than $100 per month, an increase of more than $40 during all of 2005.
"These statistics demonstrate that HSA Bank accountholders are learning how to manage their accounts and in many cases are able build savings for future health care costs," said Kirk Hoewisch, president of HSA Bank.
HSA Bank serves customers in every state in the nation and is one of the first financial institutions nationwide to offer health savings accounts. HSA Bank combines convenience, service and savings with low account maintenance fees, high interest rates for investments, 24-hour account access online or through an automated telephone system and outstanding personal service. For more information about HSA Bank, visit the HSA Bank website at http://www.hsabank.com/.
Webster Financial Corporation is the holding company for Webster Bank, National Association and Webster Insurance. With $18.0 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 160 banking offices, 308 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corp., Center Capital Corporation, an equipment finance company headquartered in Farmington, Connecticut and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank, Member FDIC and equal housing lender.
For more information about Webster, including past press releases and the latest annual report, visit the Webster website at http://www.websteronline.com/.
Media Contact: HSA Bank: Becky Seefeldt 920-803-4151
Webster: Clark Finley 203-578-2287
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