UMB Healthcare Services Announces Launch of UMB HSA Saver®
September 09 2015 - 9:30AM
Business Wire
UMB Healthcare Services, a division of UMB Financial
Corporation (Nasdaq: UMBF), has launched its own health
savings account (HSA) investment tool called the UMB HSA Saver®.
UMB HSA Saver is designed to provide HSA accountholders with a
simplified approach to managing their HSA investment choices.
The Employee Benefit Research Institute estimates that the
average couple retiring at age 65 will need nearly $300,000 in
savings to cover healthcare costs alone. If HSAs are used as they
are intended – as a long-term savings tool for future medical
expenses – retirees will position themselves to be more adequately
prepared for retirement.
“Medical costs are a major financial burden, if not the biggest
financial burden for retirees,” said Dennis Triplett, chairman of
UMB Healthcare Services. “In developing UMB HSA Saver, we thought
about the barriers that prevent accountholders from keeping their
investment dollars in their account. Part of that is a need for
education about how to manage their investments once their savings
begin to grow. We took a serious look at the critical need to
remove these barriers through the development of this tool.”
The HSA Marketplace page walks accountholders step-by-step
through the list of funds available to them, which are vetted and
chosen by UMB’s Investment Management division. From there,
investors can easily buy, sell and research the funds available or
schedule monthly automatic investments if they choose.
“UMB HSA Saver is a much-needed solution that simplifies the way
HSA investments are presented to accountholders,” said Begonya
Klumb, CEO of UMB Healthcare Services. “By utilizing this tool,
they can make informed investment decisions with their hard-earned
savings dollars. We’ve put the control back in investor’s hands to
manage their portfolios with a greater focus on continued education
throughout the process.”
For more information about the launch of the HSA Saver, visit
the UMB blog at http://blog.umb.com/hsa-saver/. To see how UMB HSA
Saver works, see the overview video here:
https://umb-3.wistia.com/medias/gqt8pl14s5.
UMB Investment Management selects mutual funds in various asset
classes for inclusion in the UMB HSA Saver® Investment Program. UMB
Investment Management is a department of UMB Bank, n.a. UMB Bank,
n.a. is a wholly owned subsidiary of UMB Financial Corporation.
Investments in securities through HSA
investment account are:Not FDIC Insured • May Lose Value • No
Bank Guarantee
UMB Custody Services provides safekeeping and settlement of the
mutual fund investments in the UMB HSA Saver investment program.
UMB Custody Services is a division of UMB Bank, n.a.
UMB Healthcare Services® and UMB HSA Saver® are registered
trademarks of UMB Financial Corporation.
About UMB
UMB Financial Corporation (Nasdaq: UMBF) is a diversified
financial holding company headquartered in Kansas City, Mo.,
offering complete banking services, payment solutions, asset
servicing and institutional investment management to customers. UMB
operates banking and wealth management centers throughout Missouri,
Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas.
Subsidiaries of the holding company include companies that offer
services to mutual funds and alternative-investment entities and
registered investment advisors that offer equity and fixed income
strategies to institutions and individual investors. For more
information, visit umbfinancial.com, umb.com, blog.umb.com or
follow us on Twitter at @UMBBank, Facebook at facebook.com/UMBBank
and LinkedIn at linkedin.com/company/umb-bank.
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version on businesswire.com: http://www.businesswire.com/news/home/20150909005392/en/
UMB Financial CorporationElizabeth Rossman,
816-423-6110ERossman@barkleyus.com
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