Patelco Credit Union's HSAs Earn High Ranking
(San Francisco, CA) - Internet health care comparison-shopping site Vimo.com has released its ranking of the nation's most affordable health savings accounts and Patelco Credit Union is the only credit union that made the top five cut.
The over $4 billion credit union, with 13 east bay branch locations, took the top spot for "Best HSA Interest Rate" and second in the "Most Affordable HSAs" category.
"As a greater responsibility of paying for medical care is transferred to the general public, we want to be in a position to help ease the financial burden as best we can," said Scott Waite, President and CEO of Patelcorp Inc., the investment and insurance subsidiary of Patelco Credit Union. "That's why we started offering Health Savings Accounts in the first place, and why we feel it's important to make them all the more beneficial to our members."
Focused on enhancing its HSA benefits, Patelco has added such features as My Medical Control, a consumer directed medical claim review and settlement service that will analyze out-of-pocket medical bills, and if the member is being charged more than what is generally reimbursed for the same or similar care,it will intervene and settle with the provider to save the member money.
"We developed our delivery models in 2003 to cut through the complexity of medical claim pricing and deliver high quality and practical cost management tools directly to the consumer to assist them in obtaining the lowest wholesale rates for their medical care," said Timothy Cahill, Managing Director of My Medical Control, LLC. "We are excited to partner with Patelco, an organization with a forward-thinking vision and genuine interest in their membership."
San Francisco-based Patelco Credit Union is a national credit union serving over 220,000 members nationwide. Formed in 1936 with just $500 in assets, Patelco now has $4 billion in assets and ranks among the largest credit unions in the nation.
Equal Housing Lender