[OEBBBUSMAN] OEBB -- HSA Option Update

[Business Managers-OEBB]

Dear Business Managers, Benefits Administrators and Premium Contacts:

 

We've gotten a number of inquiries over the past month or so about how
OEBB's move to offering the financial account component of the health
savings account (HSA) benefit option affects entities' ability to offer
HSA vendors other than the vendor provided by and administered by OEBB
-- U.S. Bank.

 

During the OEBB Board meeting today, the Board approved filing two
Temporary Rules, and moving the rules with these amendments into the
Permanent Rule rulemaking process, consistent the advice of our
Department of Justice legal counsel.  Entities can choose to offer HSA
services to their employees through the OEBB-preferred vendor (U.S.
Bank) and may offer other HSA vendors as well.  An employee must be
enrolled in the OEBB high deductible health plan (i.e., ODS Medical Plan
9) to participate in the OEBB-sponsored HSA benefit option offered
through U.S. Bank.

 

Attached is a copy of both rules with the amendments approved by the
Board.  OEBB welcomes your comments on both rules.  You should receive
an official invitation to submit public comment within the week as well.


 

I hope this clarification is helpful.  We believe the low fees charged
by U.S. Bank, the online tools and customer service support offered by
U.S. Bank, and the fact that the accounts are FDIC-insured make this
option one of the most attractive options out there for education
employees.

 

I will be out of the office beginning July 18, returning on August 1.
If you have any questions during that time, please call the OEBB Member
Services team at 888-469-6322.  Thank you. 

 

 

Sincerely,

 

Denise L. Hall

Deputy Administrator

Oregon Educators Benefit Board

http://egov.oregon.gov/DAS/OEBB <http://egov.oregon.gov/DAS/OEBB> 

(503) 378-5133

(503) 378-5832 FAX

 

OEBB has a new weight management program and covered dependents are
eligible for Weight Watchers too beginning October 1, 2011!  Pass it
on..... http://www.oregon.gov/DAS/OEBB/WeightMgmt.shtml
<http://www.oregon.gov/DAS/OEBB/WeightMgmt.shtml>  

 

 

 

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