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Products January 23, 2020
Principal and HSA Bank Announce Partnership
Chad Wilkins, president of HSA Bank, says the new relationship will provide a useful tool for customers, uniting health and wealth planning.
Reported by PLANADVISER Staff
HSA Bank, a division of Webster Bank, N.A., announced a new relationship with Principal Financial Group, through which the firms will offer customers a convenient way to view their health savings account (HSA) balances alongside the rest of their retirement plan information.
The collaboration gives Principal customers with an HSA through HSA Bank easy access to a comprehensive online snapshot of their retirement portfolio—one that includes their HSA balances. Through an application programming interface (API), customers who authorize the integration of their HSA Bank and Principal accounts will be able to get a holistic view of their HSA cash and investment balances. With single sign-on (SSO) technology, customers utilizing the Principal retirement portal can easily log into the HSA Bank website with one click to better manage their account for long-term savings and future health care costs.
“We know health care can be a significant expense throughout a person’s lifetime, especially in retirement, and that HSAs are an advantageous way to save for future health care costs,” says Chad Wilkins, president of HSA Bank. “I believe this relationship will provide a useful tool for customers, uniting health and wealth in one common goal: to meet their retirement savings needs.”