WATERBURY, Conn., Oct. 31 - HSA Bank(TM), a division of Webster Bank, N.A., a subsidiary of Webster Financial Corporation (NYSE: WBS), announced today it has developed a new group online enrollment feature and online contribution features to assist employer groups and individual accountholders with greater access to accounts and more effectively manage accounts.
The group online enrollment feature allows the employer to determine how applications will be submitted and processed, who will pay for the set up and ongoing fees, and allows employers to upload employee census data. Once the group is set up, each participating employee accesses a custom enrollment link to complete and submit the requested enrollment information.
"HSA Bank is driven to provide innovative technology to our employer relationships and accountholders. As more Fortune 500 companies begin to explore HSA plan options, HSA Bank is introducing the online capabilities they need to maintain their commitment to their employees," said Kirk Hoewisch, president of HSA Bank.
The online contribution options are available to individuals and groups. Funds are transferred to an HSA by entering the amount of the contribution and submitting the transaction. The online contribution options are accessible through the secure Internet Banking and Employer areas on the HSA Bank website, http://www.hsabank.com.
HSA Bank's online features offer employers and accountholders with tracking capabilities specifically developed for the HSA industry. The group online enrollment feature allows employers to monitor HSA enrollment through an employer administration area and to follow up with employees to ensure that the new account is established. The employer or accountholder who initiates an online contribution can receive a confirmation of the contribution being made to the HSA and view upcoming contribution transactions.
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 $17.8 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 154 banking offices, 293 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.
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 920-803-4215 bseefeldt@hsabank.com Webster: Clark Finley 203-578-2287 cfinley@websterbank.com
