Products December 12, 2005

Paychex Offers HSA Product

December 12, 2005 (PLANSPONSOR.com) - Paychex Inc. has introduced a new health savings account (HSA) product available to its small business payroll clients and clients of its comprehensive HR outsourcing solution.
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According to the announcement, Paychex has created alliances with Affiliated Computer Services (ACS) and Mellon Financial Corporation to offer the Paychex HSA.   Paychex will collect and remit HSA funds to Mellon Trust of New England, the account custodian.   ACS will provide account administration and customer service for employers and accountholders.

“The HSA integrated with payroll is truly where form meets function.   Through payroll integration, the burden of calculations, remittance and compliance is taken off the small business person’s hands,” said Tony Tortorella, vice president of sales for Paychex Human Resource Services, in the release.

More information about the product can be found at www.paychex.com/products/125payx.html#HSA .

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