Sovereign Bank has announced a new health savings account program featuring multiple customer enhancements. The new program is based on Canopy Financial’s web-based HealthDirect operating platform.
Other new enhancements to Sovereign’s program made possible by the HealthDirect platform include the ability for account holders to invest in a variety of mutual funds, to make online account transfers and bill payments and to keep track of their healthcare spending more efficiently.
Employers who choose Sovereign as custodian for their employees’ Health Savings Accounts (HAS) will also benefit from the new platform via a comprehensive, online HAS Management System that greatly simplifies tasks associated with HSA program administration including managing employee HSA enrollments and HAS contributions and payroll administration.
