≡ Menu

Health Savings Administrators and Banks

Health Savings Administrators and BanksBelow is a breakdown of some of the most competitive HSA banking options. Some of the HSA plans below offer simple interest bearing accounts with checks and Visa or MasterCard debit cards, while others also offer investment opportunities for mutual funds, stocks and bonds.

You may find it worth while to check with your current bank to also see if they also offer Health Savings Accounts. Some banks will waive fees for current clients. Please remember that before you can open an Health Savings Account you must first have an HSA qualified health plan. Get a free quote on an HSA qualified health plan.

 

Health Savings Account Trustees:

American Health Value, LLC   Phone: (800) 914-3248
Visa debt card and checks
50 free pre-printed checks/free unlimited check writing
No Set up Fee
$36.00 Annual Fee
$2.50 Month service charge if balance under $2500.00/fee waived if monthly electronic deposits made
Check site for current interest rates
Investment Available Options
Free prescription discount card
http://www.americanhealthvalue.com

Bancorp Bank   Phone: (800) 545-0289
Free HSA Debit MasterCard
First HSA Debit MasterCard is free, $10 for additional cards
No application fee
Free first order of checks
Monthly fee charged on the HSA account of $3.00. This fee is waived when an account balance is greater than $3,000.
Full online account access
Check site for current interest rates
Investment options for balances over $3000
http://www.thebancorp.com/persbanking/msa.asp

Discovery Benefits   Phone: (866) 451-3399
Vanguard® mutual funds investments available
Set up fee (one time): None
Annual service fee: $25
Monthly fee: $3
Minimum deposit: None
Debit Card : Available after balance reaches $1000.00
http://www.discoverybenefits.com

Exante Bank   Phone: (866) 234-8913
Set up fee (one time): $10
Monthly fee: $3 (Waived for balances over $5000)
Statements: On-line
Checks: Set of 6 $1.50
On-line Bill Pay: 1 per day (no fees)
Debit Card : MasterCard provided free
Check site for current interest rates
http://www.exantebankhsa.com

First Bank    Phone: (800) 964-3444
Annual fee: $25
No minimum balance or monthly service charges
Unlimited check writing privileges
Up to 2 Visa HSA cards free
Competitive interest rates
Internet banking with eStatements, optional Bill Pay and Financial Downloads
http://www.efirstbank.com

First American Bank   Phone: (866) 449-1150 Toll Free
No minimum deposit
No monthly fee with eStatements
Free Debit Card
Free Online Banking
Free Bill Payment
Free e-Statements
Mutual Fund Options
Check site for current interest rates
https://www.firstambank.com

First HSA    Phone: (888) 769-8696
Set Up Fee: $25
Monthly fee: $5
Unlimited Check writing availability
Unlimited Checkcard usage
No Zero balance Fee
Flexible and unlimited contributions
No Closing Fee
Check site for current interest rates
Investments available through Berkshire Capital
http://www.firstmsa.com

First Horizon MSAver   Phone: (866) 889-8583
No Set-Up Fee
Free Debit Cards and Checks
Free Banking Online
Free Bill Pay
Low Monthly Fee of $2.50
Competitive Interest Rates
Unlimited check writing and debit card privileges Minimum Initial Contribution is $100 Investment Options for Balances over $1000
http://www.firsthorizonmsaver.com

Health Savings Administrators    Phone: (888) 354-0697
15 Vanguard® no-load mutual funds to choose from
Mutual funds available with no minimum balance
No limitations on contribution timing
No transaction fees
Set up fee (one time): $20
Annual service fee: $35
Minimum balance: $50
Minimum deposit: $50
Debit Card Interest rate: 1.0% after balance reaches $1000.00
http://www.hsaadministrators.com

HSA Bank   Phone: (800) 357-6246
Set up fee: $20
Monthly fee: $2.25 if Balance <$3000
Minimum Deposit: $50
Minimum Balance: $25
Check site for current interest rates
HSA funds can be invested in stocks, bonds, and mutual funds
http://www.msabank.com

Mellon Bank   Phone: (412) 234-5000
Set up fee (one time): $15
Monthly fee: $2.95
Debit Card Transactions and Check writing: Free
Check book and MasterCard provided: Free
Check Reorders: $10
Check site for current interest rates
Investment options for HSA balances over $3000
http://www.mellon.com

Merrill Lynch   Phone: (800) 999-3983
No minimum deposit
No monthly fee
Annual Fee: $100
Debit Card included
Unlimited check writing
Monthly statements
Year end tax reporting statement
Full brokerage service options
Call for current interest rates

Saturna Capital   Phone: (800) 728-8762
0 Fees if HSA invested in one of their 7 equity or bond mutual funds
$25 Fee if invested in our Money Market Mutual Fund selection
$100 Account Opening Minimum
No monthly fees. No transaction fees.
Free checking.
Unlimited investment selection.
Debit cards available.
Online Account Access
http://www.saturna.com/hsa1.htm 

Sterling HSA   Phone: (800) 617-4729
Sterling Debit card and check write by Sterling HSA
Sterling reviews medical bills and EOBs on behalf of our clients prior to paying them and indicate qualified vs. non-qualified medical expenses
HSA set up fee: $35
minimum initial contribution: $100
No annual admin fee
Monthly maintenance fee: Either $2.50 or $8.75 depending on plan option selected
Current interest rates paid:
1% under $2,000
2% over $2,000
3% over $5,000
Sterling allows and support clients to self-direct investments. Alternatively, Sterling has a broker/dealer, Partnervest, which clients can use for investment vehicles and information
http://www.sterlinghsa.com

Wells Fargo   Phone: (866) 890-8309
No set up fee
Minimum deposit: $50
Monthly fee: $3.75
No Annual Fee
Debit Card included
Unlimited check writing
Monthly statements
Year end tax reporting statement
Mutual fund investment options
Call for current interest rates

Companies like Assurant Health and Golden Rule offer their own HSA programs for people that get their HSA qualified health insurance, but you are not obligated to use their HSA services.  Anthem Blue Cross Blue Shield has partnered with Mellon bank, but you are not required to use Mellon as an HSA administrator.

Anthem Blue Cross Blue Shield – Mellon Bank
Set up fee (one time): $15
Monthly fee: $2.95
Debit Card Transactions and Check writing: Free
Check book and MasterCard provided: Free
Check Reorders: $10
Check site for current interest rates
Investment options for HSA balances over $3000
View Anthem HSA Information

Assurant HSA Fundamentals
No set up fees or annual fees
2% interest for account balances between $750 and $4,999.99
3% interest on the entire investment for account balances at or above $5,000
Debit card or checkbook for direct payment to providers from HSA
Assurant does not pay providers directly
Assurant HSA account holders have choice of:
1. Automatic reimbursement to you for claims from HSA.
2. Manual reimbursement to you when you submit request for disbursement.
View Assurant HSA Information

Assurant HSA Tools with UMB Bank
No set up fee
$3.95 monthly fee waived with $50 transfer from personal checking account
6% interest guaranteed for 12 months (limited time offer)
Debit card included and and checkbook available upon request
Online banking and transfers
Mutual Funds and Money Market Accounts through UMB Scout Brokerage
View Assurant HSA Information

UnitedHealthOne Golden Rule / – Exante Bank (FDIC Insured)
$10 One time set up fee
$3 Monthly Service Charge
$25 Minimum Monthly Deposit
5% interest
Statements: On-line or via Postal Mail
Checks:  Available for purchase
On-line Bill Pay: 1 per day (no fees)
Debit Card : MasterCard provided free
View HSA Plan Information

Plans referenced above are subject to change without notice. 

Health Savings Accounts are the biggest advancement in health care financing in years is available to anyone in Colorado with our HSA qualifying medical plans! Call Colorado Health Insurance Brokers at 800-416-4481 for more information and a free quote or Get a free instant HSA quote.

MORE HSA RESOURCES >>
HSA OVERVIEW
HSA HIGH DEDUCTIBLE HEALTH PLANS
HSA QUALIFIED EXPENSES
HSA – ALTERNATIVE MEDICINE
HSA QUESTIONS AND ANSWERS
GET A QUOTE ON AN HSA QUALIFIED HEALTH PLAN

* See IRS Publication 502 for a list of qualifying medical expenses. You may also reference IRS Publication 969 and the IRS HSA Questions and Answers bulletin and www.irs.gov for more information on HSA’s and IRS rulings and www.ustreas.gov for Treasury Department rulings. Federal and state regulations are subject to change. Colorado Health Insurance Brokers are not engaged in rendering tax, investment or legal advice. If tax, investment or legal advice is required, seek the services of a licensed professional.