Bill Would Authorize Health SavingsAccounts For California CUs

Register now

SACRAMENTO - (02/21/05) -- A proposal introduced in the stateAssembly last week would allow state chartered credit unions tooffer their members tax-exempt Health Savings Accounts, just likefederal credit unions. Health Savings Accounts are tax-exemptsavings accounts similar to Individual Retirement Accounts that areespecially earmarked for medical expenses. Federal law allowsCalifornia's 300 federally chartered credit unions to offer theaccounts.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER