Creating Your Health Savings Account

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Once you have your HSA-qualified health insurance plan in place, you will want to establish your health savings account.  You can then fund the account to the maximum amount, or only put money in it when you incur a medical expense – the choice is yours.

To establish your HSA, follow the steps below:

sign up hsa 1. Sign up for an HSA-qualified insurance plan

First, you must make certain that you have a qualified High Deductible Health Plan, or must have recently applied for coverage.  To see the plans available in your area, visit our HSA Insurance Plans page.  Once you choose a plan, you may apply online, or mail in an application.

bank to host choose2. Choose a bank to host your HSA

Next, you will need to choose the company you would like to administer your HSA.  While some insurance companies offer to administer your account (only if you have their insurance plan), you may also choose to work with an outside, third party administrator. For a comprehensive list of companies offering HSAs, complete with details on how each of these accounts work, please visit our HSA Administrator page.

initial hsa deposit3. Make initial HSA deposit

Once you have chosen your administrator, you can open an account online, or download their enrollment form.  You may obtain these links on our HSA Administrators page by clicking on the name of the bank or administrator you’ve chosen.

continue deposit future withdrawals needed4. Continue to make future deposits, and make withdrawals as needed

After downloading the proper enrollment form, you will need to send it, along with your opening deposit, to the address listed on the enrollment form.  You will receive your introductory packet, including complete instructions on how to make future deposits and the options you have for withdrawing your funds, in approximately two weeks.


At netWell, your monthly sharing amount is based on the following factors:

  • The age of the oldest active member in your family
  • The number of members in the membership
  • The membership option or tier you select
  • Your member commitment portion (MCP)
  • Your state of residence

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