IRVINE, Calif., Feb. 12, 2020 /PRNewswire/ -- Sunwest Bank is pleased to announce its newest product, SelfcareHSA. Developed internally, this new platform is targeted for employer-sponsored health savings accounts as part of their health and wellness benefit plan offerings to employees.
SelfcareHSA was designed as an exciting product to take the pain out of managing your health savings account. We developed this in conjunction with our Director of Human Capital, Kara Trebs and our entire Human Resources team to get input from the professionals, and to ease the pain points they face as administrators.
"We experienced a number of problems in the HSA banking space," Carson Lappetito, President of Sunwest Bank said. "So, we built our own platform, and we designed what HR and customers would want, ultimately building a product that solves industry pain points. Now, we are offering it out nationwide."
A SelfcareHSA account lets holders gain access to a tax-exempt, interest-bearing health savings account that allows them to manage how they plan and pay for qualified medical expenses. Holders make these contributions through payroll deductions or rolling over another HSA. These contributions roll over year-to-year and can be saved for retirement as they are penalty-free after the age of 65. These funds are easy to distribute via debit cards, online banking and checks.
SelfcareHSA was created to fill the gap in services provided both to consumers and employers managing health savings accounts.
"Our focus was to create a solution for human resources that was easy to navigate as an administrator. Setting up and funding a health savings account for your employees should not be complicated," said Steve Avila, Sunwest Bank Vice President of Strategic Projects. "Drag and drop of a file gets the entire process moving. It's that simple."
This new account offering comes during Sunwest Bank's 50th Anniversary as a leading community bank in the Western United States. Throughout the year, Sunwest Bank will host a series of stories on its half-century as a bank as well as its future. - https://www.sunwestbank.com/celebrating-50-years/