J.P. Morgan Enhances Health Savings Accounts

J.P. Morgan’s (NYSE: JPM) Treasury Services business, a full-service provider of cash management, trade finance, treasury solutions and escrow services, today announced significant enhancements and improved capabilities for its health savings account (HSA) program.

The enhancements include new mobile capabilities, updates to the online user experience, as well as improvements to the Chase HSA medical expense management tools. In addition to improved account access from mobile devices, users will have more control and a better understanding of their annual HSA contributions, and advanced tools to manage qualified medical expenses.

“As medical costs continue to increase, we’re striving to ensure our customers are in the driver’s seat when it comes to maximizing benefits from their health savings account,” said Elena Szymanski, Executive Director and Senior Product Manager, J.P. Morgan Treasury Services. “Enhancing the online experience and investing in product and service enhancements for HSAs will help customers leverage opportunities to get the most from every healthcare dollar.”

New Mobile Capabilities – Vital HSA Information Delivered to Accountholder’s Finger Tips

The new HSA mobile capabilities allow individuals to interact with the HSA regardless of their device. Accountholders may use their mobile device (enabled to send SMS text messages) to text Chase and request information such as their HSA balance, YTD contribution information and recent transactions.

Additionally, accountholders may visit “Chase HSA Mobile” from their Smartphone web browser to see account-related information, lists of qualified expenses intended to help customers when making purchases and more.

Enhanced HSA Contribution Tracking

Accountholders and employers are looking for more proactive ways to monitor contributions and ensure that IRS annual maximums are not exceeded. The upgraded Chase HSA website now displays a year-to-date contribution status graphic with IRS limits that can be tied to a custom text or email alert that is triggered based on a specific threshold set.

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