News

First the Consumer Federation of America got involved, and now the governor of Michigan - the story of DFCU Financial's conversion attempt is still playing out. Page 4.

Nine percent of individuals enrolled in an HDHP that were eligible for an HSA did not opt to open an account. Below are the reasons that individuals gave for not opening an HSA when the option was offered to them.

The fastest growing market for HSA/HDHP products is group coverage, which has grown from about 20% of the market in Sept. 2004 to approximately 60% in Jan. 2006. In particular, the large-group market has seen a significant increase since Sept. 2004.

According to Treasury, an individual can contribute to an HSA each year that they are eligible. Contributions can be up to the amount of their HDHP deductible, but no more than $2,700 for self-only coverage and $5,450 for family coverage. The chart illustrates how this works.

SYDNEY, Australia - John Throwden was removed from his roles as director and senior manager from the Pinnacle Credit Union by The Australian Prudential Regulation Authority. APRA claimed in its removal statement that "Mr. Throwden was not a fit and proper person to hold a senior position within an ADI...

WASHINGTON - The Department of the Treasury released a new guide that explains health savings accounts. The comprehensive guide illustrates what HSAs are, who can have an HSA, the advantages of HSAs and many other important details. It begins by defining HSAs and discussing what qualifying factors enable an individual...

WEST PALM BEACH, Fla. - With a presidential push, the buzz for 2006 is all about health savings accounts - leaving financial institutions busy jockeying to be the first to offer such accounts to consumers and employers alike. HSAs are tax-free savings accounts that can be used to pay for...

LIVELY, Ontario - When most credit union managers take a winter break from work it might be skiing or escaping to a beach retreat, but not Robert Clark, general manager of Community Savings and Credit Union in Lively. He chose to spend three weeks helping credit unions in rural Ghana...