Blue Cross Blue Shield launches bank

The Blue Cross and Blue Shield Association is starting a bank that will focus on Health Savings Accounts (HSAs) and other financial tools used in "consumer driven" plans. The Blue Healthcare Bank will launch at some point over the summer, organizers say, pending regulatory approval. The move will allow the association to tap into a potential customer base of 70 million people across the country. The bank will offer debit cards which customers can use to pay healthcare expenses and is expected to offer loans to those who have trouble paying medical costs. The trend toward HSAs and similar plans has led some analysts to speculate that a major player in finance like American Express could buy an insurer in an effort to become a one-stop benefit shop.

- read this article from the Los Angles Times

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