JP Morgan has seen their Health Savings Accounts grow by 60 percent in the last year.
NEW YORK–(BUSINESS WIRE)–J.P. Morgan today announced that its Health Savings Account (HSA) business has grown by 60 percent in account volume over the last year.
As the only national bank to offer HSAs through its own proprietary platform, J.P. Morgan remains an industry leader with more than 300,000 account holders and more than $400 million in assets.
“HSAs enable employers and consumers to balance more effectively short- and long-term needs around healthcare expenses,” said David Josephs, head of J.P. Morgan’s Consumer-Directed Healthcare business. “With the rising cost of healthcare coverage, health insurance plans that include an HSA help individuals plan for current and future expenses while helping employers and individuals manage healthcare costs.”
The number has to be considered impressive, but also unbelievable as in the first year alone JP Morgan Chase charges seventy-one dollars in fees on their Health Savings Accounts followed by $51/year afterwards (not including $1.25 check fees). One has to wonder if consumers know that there are better priced options out there.
Tags: jp morgan chase
Tags: jp morgan chase
