Waterbury lender Webster Financial Corp. said Tuesday that it has received regulatory approvals for its previously announced acquisition of JPMorgan Chase’s health savings account subsidiary.
Webster said the acquisition makes it the leading provider of health savings accounts, leapfrogging United Healthcare.
The companies have not disclosed the price of the deal, which includes 700,000 accounts with $1.3 billion in deposits and $175 million in investments.
HSAs allow account holders to save as much as $3,300 in pre-tax money from their paychecks to pay for healthcare expenses.Â
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