Bill Would Authorize Health SavingsAccounts For California CUs

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.

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