ARLINGTON, Va. — BISYS Retirement Services and NAFCU Services Corporation have recently expanded their partnership to include Health Savings Accounts.

HSAs are tax-free portable savings accounts that can be used to pay for medical expenses including prescription and over-the-counter drugs incurred by individuals, spouses or dependents. These accounts are accompanied by high-deductible comprehensive insurance policies that cover preventive care and larger medical bills. Unused HSA money rolls over from year to year and can then be used to pay for medical care up to the plan's deductible.

"HSAs are one of the fastest growing products in today's financial services arena," said David Frankil, president of NAFCU Services Corporation. "Beyond the competitive issue of offering a new service that keeps members from moving their deposits to other financial institutions, members benefit from the effectively lower overall health care costs. Added bonuses for the credit union are the increased deposit base and additional non-interest income."

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