Blues Start Their Own Bank For HDHC

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Blues Start Their Own Bank For HDHC

The Blue Cross Blue Shield Assn. will start a bank to handle health savings accounts and other financial tools. The Blue Healthcare Bank is expected to begin operating by summer, pending regulatory approval. About 400,000 Blue Cross Blue Shield customers are enrolled in consumer-directed plans. The Blue Healthcare Bank will offer debit cards that will allow consumers to pay healthcare expenses out of their accounts, and even credit lines if costs exceed their savings. About 70 million members of Blue Cross Blue Shield nationwide could benefit from the bank, which will not be limited to customers with HSAs.