Changes in Healthcare Require Active Participation from Individuals and Institutions

As people are inundated with varying messages concerning their personal health and healthcare decisions, credit unions can capitalize on their role as a trusted advisor to make sure a members healthcare needs are met – in addition to their financial needs.




Consumers are bombarded with messages of health daily. From the political discussion of universal healthcare and what it will cost them to the latest studies on disease and prevention, health is a hot topic almost anywhere consumers turn. This growing emphasis on healthcare in consumers’ lives has made it an important topic for credit unions too.

Credit Unions value their customers well beyond the value of their share or draft account. They care about the quality of life for their customers and work to ensure that each has access to tools that can help them succeed in all aspects. This outlook becomes especially relevant in the area the area of health.

Stretching the Healthcare Dollar with HSAs
With rising healthcare costs and increasing awareness of how to stay healthy, it is more important than ever to help consumers decide how to spend the healthcare dollar.  As customers become more and more responsible for the consumption of healthcare services, they tend to be  more aware of their options, the costs, and also ways to be proactive in their quest for long term health.  Health Savings Accounts (HSAs) provide this opportunity.

Credit Unions can excel in this area, helping customers take better care of themselves and save for their healthcare costs.  Adding High Deductible Health Plans (HDHP) and a qualified Health Savings Account (HSA) provides employees and customers with a new alternative in planning for their long term healthcare costs Today, employees can select a plan that provides them with a pre-tax account, similar to Flexible Spending Accounts (FSA), but with the advantage of being owned by the consumer.

HSAs are portable, roll over year to year (not a “use-it-or-lose-it” type of account), earn interest, and can be used when needed for eligible medical expenses. HSAs provide credit unions with the main objective they are all seeking, deposit growth! The latest statistics show that new account holders are using the health savings accounts for just that, savings.  The first year balances on average range from $1,300-$1,800. Providing HSAs also allow credit unions the ability to provide services to their SEGs and sponsors, strengthening these relationships. 

Fiserv, a leading provider of products and services in both the financial and health insurance industries, has developed a fully scalable, end-to-end health banking solution that enables all stakeholders – consumers, employers, employees, and financial institutions – to reap the full benefit promised by HSAs. No one else supplies a more comprehensive or more seamlessly integrated set of capabilities than Fiserv. Visit Fiserv at




Nov. 19, 2007


  • This article was not written by a credit union person. Credit unions have members, not customers.