KANSAS CITY, Mo.--(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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150909005392/en/
UMB Financial Corporation
Elizabeth Rossman, 816-423-6110
ERossman@barkleyus.com
Source: UMB Financial Corporation