US Patriot Act - Health Savings Accounts

5/12/2008

The US Patriot Act requires all financial institutions to obtain, verify and record information that identifies each person who opens a Health Savings Account.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens a Health Savings Account. What this means to you: When you open a Health Savings Account with Discovery Benefits, we will ask for your name, street address, date of birth and other information that will allow us to identify you.

The process takes approximately two days during which time your account will be blocked. Once completed and your identity verified, access to your Health Savings Account will be unblocked and made available to you.

Categories: HSA