STCBank Launches the Original Gift HSA™ Providing Recent Graduates the Gift of Health
The Original Gift HSA™ is a personal Health Savings Account that can be used to meet the costs of health services a new graduate might incur up to a pre-set limit. Since anyone can fund another person's HSA, our Program is designed with the caring Grandparent and Parent in mind. Empower him/her with this 'Gift of Health' today, by giving your new graduate his/her own Original Gift HSA™!
Wethersfield, CT (PRWEB) September 18, 2006
STCBank, a full service financial portal with banking services provided by FDIC insured Bancorp Bank, today announced the availability of the Original Gift HSA™ (Health Savings Account). The Original Gift HSA™ is a personal Health Savings Account that can be used to meet the costs of health services a new graduate might incur up to a pre-set limit. Rick Willard, an innovator with STC Bank, and his team developed the Original Gift HSA™ as a solution to accelerate the adoption of HSAs by young people across the country. The Original Gift HSA™ empowers and protects young graduates by including them in the healthcare system, which is most often overlooked by those between the ages of 19 to 29.
Parents, Grandparents and other caring family and friends can give the gift of health by funding the first and second year of a Gift HSA. STCBank financial experts also recommend completing the Original Gift HSA™ package with a mandatory and permanent health insurance, specifically a High Deductible Health Plan (HDHP), which is then owned by the individual. An individually owned HDHP eliminates the financial burden on all prospective employers to provide a substantial Human Resource (HR) and never-ending healthcare benefit to the employee, essentially making the new hire more desirable.
“The Original Gift HSA™ packaged with a HDHP is one of the most important gifts anyone can give because it empowers graduates with the gift of personal health and it injects a dose of consumerism into our strained healthcare system,” said Willard. “We are doing our part to transform health insurance from a costly benefit, into a system that instead provides individuals with better information and encourages financial responsibility to support a position of ownership and personal wealth.”
The Original Gift HSA™ is an intelligent and caring healthcare solution that works on many levels. The 19 – 29 age group, which is often referred to as ‘healthy uninsureds,’ has an opportunity to benefit from HSAs because historically this group is not comprised of heavy healthcare consumers in terms of hospital services, doctor visits or other health related expenses. Essentially this group’s premiums are then freed to help off-set the cost for older individuals, who tend to utilize health services most often.
Most importantly for young people, the Original Gift HSA™ redefines what health insurance means, transforming it from a necessary benefit, but uncertain employment obligation, into an accumulating asset with healthcare protection owned by the new graduate. HSAs from STCBank give individuals a sense of ownership of their healthcare services through a shared savings model, similar to the concept of the extremely popular IRAs and Employer Sponsored 401ks. Not only does the Original Gift HSA™ help ease the burden on the current domestic healthcare system, young people also benefit because they are seen as less of a liability by employers and they earn interest on their tax-free investment.
About STCBank
STC Bank is powered by an Internet bank called The Bancorp Bank, based in Wilmington, DE, with offices in downtown Philadelphia. The senior executive team at Bancorp Bank is comprised primarily of seasoned former executives from Jefferson Bank, one of the largest Philadelphia-based financial institutions. For more information about STCBank services, including the Original Gift HSA™, please visit: www. stcbank. com.
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