First Horizon Msaver has received the 2009 Model Bank Award in Healthcare Banking from Celent, a Boston-based financial research and consulting firm.

First Horizon Msaver was named a model healthcare bank for its Employer Funding Portal, which is used by employers to deposit employee payroll deductions and employer contributions into individual health savings accounts (HSAs).

The portal is targeted towards small to midsize employers. It allows them to control the amount and timing of deposits, set up recurring Automated Clearing House files (ACH), search and retrieve employee data, including year-to-date totals of contributions and their distribution. The tool also monitors excess contributions and tracks open accounts.

Celent’s Model Bank research was a high-level study of the use of technology to manage health savings accounts. The study considered banks’ size, complexity of operations and product offerings and technology capability.

“Our approach was to offer, at a high level, some key best practices in the usage of technology that a ‘model bank’ would use,” said Jacob Jegher, senior analyst with Celent’s Banking Group and coauthor of the report.

E. Craig Keohan, president of Msaver, said the Employer Funding Portal was part of an ongoing initiative to provide simpler methods for employers to maintain health savings accounts for their employees.

First Horizon Msaver Inc. is a leader in the servicing of Health Savings Accounts (HSAs) and is a member of the First Horizon National Corp. family of companies. With first-to-market technology like electronic enrollment, banking online, online bill pay, investment options and a dedicated HSA customer care center, First Horizon Msaver is helping thousands of Americans get the most out of their tax-favored HSAs. First Horizon companies have been recognized as some of the nation’s best employers by AARP and Working Mother. First Horizon also was named one of the nation’s 100 best corporate citizens by CRO magazine. More information can be found at www.firsthorizonmsaver.com.