Health Savings Accounts Debut AtCUs

WASHINGTON - (03/01/05) -- HealthAmerica CU, one of the firstcredit unions to offer its members tax-deferred Health SavingsAccounts, was eager to jump into the new federal program. "Smallemployers are really looking closely at this program," MauryPilver, president of the Jacksonville, Fla., credit union,attendees of NCUA's Access Across America Workshop. "They see thisas an answer to the problem of being squeezed by the HMOs," Andit's not just small businesses that are interested. "Most of themajor employers are looking at HSAs as an alternative totraditional health care plans," he asserted. Attendees to theconference, held in conjunction with CUNA's annual governmentaffairs conference, were also urged to offered the special healthaccounts to their employees as an added benefit. HSAs enableconsumers to pay for current health expenses and save for futurequalified medical and retiree health expenses on a tax-freebasis.