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HSA EMBEZZLING CASE A HEADS-UP FOR EMPLOYERS.

Publication: Workforce Management
Publication Date: 09-APR-07
Format: Online
Delivery: Immediate Online Access
Full Article Title: HSA EMBEZZLING CASE A HEADS-UP FOR EMPLOYERS.(Out Front)(1Point Solutions' health savings accounts fraud case )

Article Excerpt
Byline: Jeremy Smerd

Barry Stokes, the self-styled "Consumer-Driven Guy'' whose company reportedly administered 14,000 health savings accounts totaling $8.7 million, sits in jail awaiting the start of a criminal trial May 22 in which he is charged with embezzling money from his former clients.

In what is likely the first prosecution of health savings account fraud, the case exemplifies the caution benefits administrators must exercise when hiring third-party administrators to manage health care assets.

Stokes' firm, 1Point Solutions, was based in the Nashville, Tennessee, area before it went bankrupt last fall. It administered at least $24 million,...

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