Fiserv To Process Health SavingsAccounts

October 07, 2005, 1:00 a.m. EDT 1 Min Read

BROOKFIELD, Wis. - (10/07/05) -- Fiserv announced Thursday that allof its seven credit union processing subsidiaries are developingcapability to support and process health savings accounts, withinitial product release expected over the next few weeks. All ofthe group's subsidiaries: AFTECH, CUSA Technologies, Galaxy,IntegraSys, Summit, USERS and XP Systems, collaborated on thespecifications and design of this emerging technology. The systemis currently being beta tested in several credit unions. HSAs aretax-deductible savings plans that must be spent on health issues.The credit union HSA program is part of a broader effort by Fiservto incorporate its health services operations across credit unionand other customer lines. Fiserv plans to roll out additionalproducts linked to HSAs, such as debit cards and overdraft lines ofcredit tied to the accounts.

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