Dreyfus Corp. announced Thursday that three of its mutual funds are now available as investment options for holders of health savings accounts opened at its parent, Mellon Financial Corp.
An equity fund, Dreyfus Appreciation; a balanced fund, Dreyfus Premier Balanced Opportunity; and a fixed-income fund, Dreyfus Intermediate Term Income, are available to people making investments through Mellon's health savings account.
Dreyfus has $160 billion of assets under management.
Mellon is a leading provider of health savings accounts. It offers services for health plans and employers, as well as interest-bearing, FDIC-insured accounts for individuals. Mellon's alliances and health savings account administration agreements reach 130 million potential participants.
HSAs, which were authorized by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, are portable accounts that people can use to pay for qualified medical expenses. Both employers and employees can contribute to HSAs - up to $5,250 a year for a family and $2,650 for an individual.
