Saturna Capital Extends HSAs To Include Brokerage
Bellingham, WA (Feb. 21, 2006) – Saturna Capital announces the availability of brokerage HSAs to all retail investors.
Saturna Capital, manager of the Sextant, Idaho Tax-Exempt and Amana Funds, has extended brokerage service options to Health Savings Account holders, allowing the possibility of investing HSA funds in stocks, bonds, money markets and other investment vehicles.
Saturna’s brokerage operations give account holders increased visibility and control over their accounts, with easy to use online tools and monthly statements. Saturna’s website allows investors to view their account status, set up automatic contributions from their personal checking or savings accounts and serves as the portal to My Streetscape, National Financial Services’ online trading platform (NFS is Saturna’s clearing agent).
Including brokerage services in an HSA gives investors greater choice with their investments. Most HSA providers offer a limited range of investment options that typically include some mutual funds and conservative investments such as money market funds or CDs.
As more and more players enter the red hot HSA market, Saturna saw the writing on the wall and responded to investor requests for greater choice in how their accounts are managed.
"Individuals and employers should have the freedom of choice when it comes to selecting their health savings accounts," said Saturna Capital Chief In-Forming Officer, Jane Carten. "Brokerage enables a world of choice beyond the often limited options of other HSA providers."
Saturna Capital began offering Health Savings Accounts early in 2004. Health Savings Accounts offer several benefits to participants including tax-deferred earnings, tax-deductible contributions, portability (because participants, not employers, own and control their own accounts) and insurance cost savings from the lower premiums of a qualified high-deductible health plan or QHDHP.
To open an HSA, investors first need to have a QHDHP. Typical plans have lower premiums than traditional or managed care plans and often allow policyholders a wider range of providers than managed care plans. QHDHPs shoulder extraordinary expenses (like a major surgery), leaving policyholders to pay for routine and qualified expenses (such as vaccinations and check-ups) via the high deductible, typically $1,500 or more for individuals. The money to pay for these qualified expenses can be withdrawn, without tax penalties,from an HSA. Policyholders are encouraged to check with their insurance provider to find out if their plan qualifies them to open an HSA.
Please consider an investment's objectives, risks, charges and expenses carefully before investing. To obtain this and other important information about Saturna's Mutual Funds in a free prospectus, please visit Document & Forms or call 1-800-728-8762. Please read it carefully before you invest.
