Recommended HSA Administrators
There are many HSA administrators to choose from, all with different fee structures and services. Listed below are several with whom we have a relationship. After choosing the one that best meets your needs, you can apply online with some companies, or download an application to mail in with your initial deposit.
The most popular among our clients is HSA Bank. In addition to savings accounts, they offer a full brokerage services with discount broker partners, allowing you to purchase stocks, bonds, and mutual funds through TD Ameritrade. We have used them ourselves and have been very pleased with the level of customer service.
Low fees are an important consideration until you have built up some money in your account. If you are only interested in a savings account option, one of the HSA administrators that has low fees is First American Bank.
You may want to consider HSA Resources if you are looking to set up Health Savings Accounts for an employer group. They have good service, low rates, and two attorneys on staff to help handle difficult issues that sometimes get complicated with group plans (section 125 issues, “comparability” testing of HSA contributions, Sub S and partnership contributions, etc.).
HSA for America is an independent health insurance broker specializing in HSA-qualified plans for individuals and families. We are happy to provide our health insurance customers assistance in choosing the best HSA administrator to meet their needs.
|HSA Administrators||Opening Fee||Min Opening Balance||Monthly Fee||Annual Fee||Investment Options||Fund Access|
|Avidia Bank||None||$10||None||None||Checking Accounts||Checkbook &
|Bank of Cashton||None||$50||None||$25||Brokerage Services||Checkbook &
|Fayetteville Bank||None||$100||None/$2||None||Checking Accounts||Checkbook &
|First American Bank||None||$0||None||None||Checking Account/|
|HSA Bank||None||None||None/$3||None||Brokerage Services||Checkbook &
|Inland Bank||None||$100||None||None||Checking Accounts||Checkbook &
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Telephone: 800-913-0172 | Fax: 970-999-0989
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