ALBANY, N.Y. and VERNON HILLS, Ill. -- Count Baxter Credit Union among the credit unions getting into the Health Savings Account game.
The $1.3 billion credit union has turned to Members Health Network, a wholly-owned subsidiary of Members United Corporate Federal Credit Union for help.
"If our vision is to be the single, unifying force for credit union success in the HSA marketplace, we need to meet credit unions where they are,'" said MHN President/CEO Peter Barnard. "We want to be the organization that credit unions turn to regardless of their size or experience with HSAs."
Baxter CU will be launching an HSA program using the Members Health Network HealthBanker platform in the spring. Essentially the platform gives credit unions the ability to tailor an HSA offering to their and their members' needs.
With HealthBanker, Baxter CU's new and existing members will have access to extensive information and resources on HSAs covering everything from how an HSA works, its advantages and savings potential, to tax and compliance information, directly from the credit union's Web site. In addition, individuals will benefit from a suite of health advisory tools designed to help them calculate health plan costs, research medical conditions, find local caregivers and compare their costs and quality.
"HSAs will be new to many of our members, so we were looking for a solution that would offer the resources they'll need without overwhelming them," said Baxter CU Account Services Director Lori Reiss. "We think this is just the right mix to successfully introduce HSAs to our members."