Errors Reported In Canopy HSA Accounts
Some people who have Health Savings Accounts administered by Canopy Financial's software have had their accounts frozen because of a dispute over how much money is supposed to be in them, peHUB has learned. Health Savings Accounts are a way for employers to let their employees set aside a certain amount of money each year for healthcare expenses and to get a tax break for doing so. Yesterday, peHUB reported that Canopy had sent a letter to its customers saying it had reason to believe that its former executives were skimming money from the accounts. Canopy has not yet responded to our report. The company's former president, Jeremy Blackburn, was indicted for wire fraud last week in Chicago federal court. Separately, Blackburn and Canopy were sued by the SEC. We're now told that the discrepancy between what the banks think should be in some of the accounts and what employees think should be there is substantial.
