New and Improved Capabilities Deliver Better Customer Experience and
More Robust Medical Expense Management Tools
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.
Medical Expense Management Tools – Valuable Insight into Overall Medical Spend
Accountholders now have the ability to capture more details about HSA expenses and better understand their overall medical spending via new expense management tools. The new tools enable accountholders to add details for qualified medical expenses paid from both the HSA as well as other sources, and easily reimburse themselves for expenses paid outside their HSA. A new graphical representation of qualified and non-qualified expenses also makes it easy to see how medical spend is being allocated.
“We are a leader within the HSA industry, and as such are always looking at ways to improve functionalities to ensure our accountholders are getting the best value and experience,” added Syzmanski. “We will continue to bring the kinds of HSA-related innovations and reliable performance accountholders have become accustomed to receiving from JP Morgan Chase.”
According to the Consumer Driven Market Report, J.P. Morgan is the largest health savings account administrator in the country, and currently administers more than 900,000 HSA’s with more than $1.5 billion dollars in deposits. For more information about J.P. Morgan HSA’s, please visit www.jpmorgan.com/hsa.
About J.P. Morgan Treasury Services
J.P. Morgan’s Treasury Services business is a full-service provider of innovative cash management, trade, liquidity and escrow services -- specifically developed to meet the challenges treasury professionals face today. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their business to J.P. Morgan. J.P. Morgan Treasury Services is one of the world's largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.