HomeMy WebLinkAbout12-05-18-01/Establishing a Single Depository Institution for Employer and Employee Contributions to Health Savings AccountsRESOLUTION BPW 12-05-18-01
A RESOLUTION ESTABLISHING A SINGLE DEPOSITORY INSTITUTION
FOR EMPLOYER AND EMPLOYEE CONTRIBUTIONS TO
HEALTH SAVINGS ACCOUNTS (HSAs)
WHEREAS, the City of Carmel began offering High Deductible Health Plans (HDHPs)
and Health Savings Accounts (HSAs) in 2013; and
WHEREAS, the City desires to always offer the best local HSA product to employees in
terms of cost, convenience, access, benefits and customer service; and
WHEREAS, the City is able to negotiate more favorable terms for employees by
depositing all HSA contributions at a single financial institution; and
WHEREAS, the City has an obligation to assess local financial institutions and select the
one institution that comes closest to meeting established criteria and offers the most value to the
largest number of employees.
NOW, THEREFORE, BE IT RESOLVED by the Carmel Board of Public Works and
Safety as follows:
Effective January 1, 2019, Indiana Members Credit Union shall be the City of Carmel's sole
depository institution for employee and employer contributions to HSA accounts.
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Resolution BPW 12-05-18-01
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
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James Brainard, Presiding Officer
Date:
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Mary A Burke, Board Member
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Lori at , Board Member
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