This administrator is a good option for someone who wants enjoy the convenience of making a monthly HSA deposit at the same time as paying their health insurance premiums.

This option is only available to those with a qualifying Time Insurance policy, and is administered by UMB Bank. The disadvantage of this account is that you may have to change HSA administrators if you ever change health insurance companies.

The Time HSA Tools* account comes with two different monthly fee structures:

  1. Free account - To open your Time HSA Tools account with no monthly fees, you must set up a monthly direct deposit of at least $50 per month.  Otherwise, there is a $3.95 monthly fee.
  2. Assurant HSA Tools - See the brochure . This option gives customers easy access to their funds via a VISA debt card and a checkbook, mutual fund investment options, and online access to view all activities of their HSA account.  There is also a line of credit available which you can use to cover medical expenses if you do not have enough money yet in your HSA.  This plan has a one-time $50 opening fee, but no monthly fee.

With either option, you have easy access to your funds via a VISA debit card and a checkbook, mutual fund investment options, and online access to view all activities of your HSA account.

* Pursuant to a Service Agreement, UMB Bank, n.a. serves as custodian for the HSA arrangements offered through Time Insurance.  HSA customers who meet certain minimum deposit requirements (presently $2,000) are eligible to direct UMB Bank, as their custodian, to open an investment account for their HSA with -UMB Scout Brokerage Services, Inc., member NASD, SIPC, a subsidiary of UMB Bank.  UMB Scout Brokerage Services, Inc. is not otherwise affiliated with Time Insurance.

Investment products are: NOT FDIC INSURED, MAY LOSE VALUE, NO BANK GUARANTEE


Setup Fee
Closing Fee
Minimum Opening Deposit
Monthly Fee
Annual Fee
None
None
None
None or $3.95
None


Access Fee:

None.  Basic account customers must submit a withdrawal form to Time for disbursement (approx. 2 weeks).  HSA Tools customers have access to a VISA debt card and a checkbook.

Perks:

No cost to set up and easy to use.

HSA Tools:

  • Online HSA Deposits Available:  With HSA Tools, you can schedule HSA deposits directly into your account.  You can make single contributions or set up recurring contributions from a personal account.
  • Online access to view all activities of your HSA account
  • Access to a wide variety of nationally recognized fund families through UMB Scout Brokerage
  • Access to PharmaAdvisor online for unbiased, credible drug information
* Only available with Time Insurance HSA plans.

Basic application     HSA Tools Application

Disclaimer:  The information listed above is current to best of our knowledge.  Please visit this administrator's web site or contact them directly to confirm you have the most current information available.

HSA for America is an independent health insurance agency specializing in high deductible health plans qualified to work with health savings accounts.  We provide a list of recommended HSA administrators as a service to our visitors and customers.  We are NOT an administrator ourselves.  If you have a question for a specific administrator, please contact them directly.

For a list of the administrators we recommend, 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.

HSA for America
749 S. Lemay Ave, Suite A3-116
Fort Collins, CO 80524
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Disclaimer: All information on this website is relayed to the best of the Company's ability, but does not guarantee accuracy. Information may be out of date. The content provided on this site is intended for informational purposes only and does not guarantee price or coverage. This site is not intended as, and does not constitute, accounting, legal, tax, and/or other professional advice. Determination of actual price is subject to Carriers.