HSA Bank is the most popular HSA administrator among our clients because it’s a good choice for someone looking for investment options while the balance in their HSA account remains low. HSA Bank gives you the option of investing in thousands of different investment vehicles offered by TD Ameritrade Corporate Services, and also provides one free debit card for the account holder and one for their Authorized Signer (spouse). Free internet banking and online transfers. This is where our company’s president, Wiley Long, currently has his own has HSA administered.
|Opening Fee||Closing Fee||Minimum Opening Deposit||Monthly Fee||Annual Fee|
|None||$25||None||$3 if balance is under $4,925||None|
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Access Fee: Up to two (2) debit cards included with account opening. ATM withdrawals are limited to $300 daily, while point-of-purchase debit card transactions are limited to $2,000 daily. Checks can be purchased for $7.95. Written withdrawal requests are $4.00 each. Free internet banking, unlimited check transactions, contribution processing, periodic statement, tax reporting statements, online account access, and access to Bankline.
Investment Options: HSA Bank offers two self-directed investment options – a TD Ameritrade Corporate Services investment account or DEVENIR Mutual Fund Selection investment account. A TD Ameritrade Corporate Services investment account provides access to stocks, bonds, and over 13,000 mutual funds. A DEVENIR Mutual Fund Selection investment account provides individuals with the option to invest in more than 10 historically high-performing mutual funds.
Investment accounts are not FDIC insured, may lose value and are not a deposit or other obligation of, or guarantee by, the bank. Investment losses which are replaced are subject to the annual contribution limits of the HSA.
Visit the HSA Bank website for savings account interest rates.
Perks: Vast investment options, free debit card for account holder and authorized signer. Personal Bankers available for customer support by toll-free number 7 a.m. to 9 p.m. CST Monday - Friday. Toll-free Bankline available 24 hours a day 7 days a week. Free Internet banking and on-demand transfer.
About HSA Bank:
In 1997, HSA Bank began providing dedicated Medical Savings Account administration. Since the passing of the Medicare Act of 2003 and the creation of health savings accounts (HSAs) beginning January 1, 2004, HSA Bank focused on and remains dedicated to servicing and administering HSAs.
Due to the rapid expansion of the Health Savings Account market, HSA Bank was acquired by Webster Financial Corporation on February 28, 2005. Webster Financial Corporation is the holding company for Webster Bank, National Association. HSA Bank is a division of Webster Bank, N.A. Webster Financial Corporation is one of the largest independent banks in New England.
Webster Bank NA is FDIC insured. Investments are not FDIC insured. Interest rates are subject to change/fees.
Wiley Long, President of HSA for America, chose HSA Bank when setting up his own personal health savings account.
For a list of our recommended administrators, please visit our HSA Administrators page.
For information on how to get instant quotes and choose a plan that is qualified to work with a health savings account, please visit our "How To" Guide page.