WATERBURY, Conn., Dec. 3 /PRNewswire/ -- HSA Bank(R), a division of Webster Bank, N.A., a subsidiary of Webster Financial Corporation , announced today the introduction of its new Mutual Fund Selection investment account option. Through a strategic partnership with Devenir Corporate Services, the national leader in investment options for health benefit plans, HSA Bank accountholders have the option of investing in up to twelve load-waived mutual funds.
"HSA Bank offers investment options to provide accountholders with the opportunity to build HSA funds at a potentially greater rate of return," said Kirk Hoewisch, president of HSA Bank. "The Mutual Fund Selection option gives our accountholders access to a professionally managed suite of mutual funds within a self-directed investment platform."
"Experts predict that the average 65 year old couple retiring today will need an additional $200,000 over and above Medicare to pay for medical expenses in retirement," said Lori Gluth, Senior Vice President, Devenir Corporate Services. "The addition of the Mutual Fund Selection account option allows HSA Bank accountholders to access a cost-effective investment option to grow their HSA dollars to help pay for those future healthcare needs."
The mutual funds for the Mutual Fund Selection investment account have been identified as historically high-performing mutual funds and cover a variety of recognizable fund family names.
HSA Bank serves customers in every state in the nation and is one of the first financial institutions nationwide to offer health savings accounts. In 2006, HSA Bank was named to the Kiplinger's Personal Finance "The Best List" as the "best health savings account." HSA Bank combines convenience, service and savings with low account maintenance fees, high interest rates, 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/.
Investment accounts are not FDIC insured, may lose value and are not a deposit or other obligation of, or guarantee by, the bank. Investment losses which are replaced are subject to the annual contribution limits of the HSA. HSA Bank does not provide investment advice.
Devenir, a full-service broker dealer and registered investment advisor based in Minneapolis is the national leader in providing customized investment solutions to the HSA Custodian marketplace. As an independent investment firm, Devenir offers a host of investment options to suit the unique needs of employers, banks, third party administrators and plan participants. Devenir designs and implements convenient, user-friendly and cost-effective investment platforms by integrating quality investment choices with streamlined administrative functions. This approach allows any bank or third party administrator to attach a robust back-end investment process to most health benefit plans. For more information about Devenir, visit the Devenir website at http://www.devenir.com/.
Webster Financial Corporation is the holding company for Webster Bank, National Association and Webster Insurance. With $16.8 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 179 banking offices, 339 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
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