Comerica Bank has launched a health savings account called Comerica HealthReserve.
It is reported that health savings accounts, including Comerica HealthReserve, can help reduce a business’s payroll taxes, health insurance premiums and administrative workload and give a company’s employees more control over their healthcare costs.
Comerica HealthReserve customers will be able to view their account balances, pay their bills and store their healthcare receipts online. Healthcare bills can be paid online or by debit card. Comerica HealthReserve customers also will have the option to invest in mutual funds when their account balance exceeds $2,500, said Comerica.
Cassandra McKinney, director of retail product and sales management for Comerica Bank, said: With healthcare costs continuing to outpace inflation, the Comerica HealthReserve account enables us to offer our business customers a chance to lower their expenses while helping their employees.
Comerica HealthReserve is also available to individuals with high-deductible heath insurance coverage, the bank said.