Once your High Deductible Health Plan (HDHP) is effective you can open and fund your Health Savings Account (HSA). Banks, credit unions, insurance companies and other financial institutions are permitted to be trustees or custodians of these accounts. Other financial institutions that handle IRA's are also automatically qualified to establish HSA's.
Listed below are links and general information for comparing HSA options from insurance carriers, local banks and online banks. We recommend comparing your current personal bank with the HSA banking option offered through your HDHP carrier. Your current bank would likely be a convenient option, especially when transfering funds or managing your accounts, but HSA banks who partner with insurance carriers often are able to lower or eliminate your set up and monthly maintenance fees.
|Bank of America||Aetna HealthFund HSA brochure, Auto enrollment with your Aetna HDHP - Bank of America sends you the enrollment kit after your HDHP is approved. No set up or monthly administration fees!|
|UMB Bank||HSA Tools Q&A, HSA Tools enrollment form
No set up or monthly administration fees!
|Chase||Chase HSA brochure and enrollment form
Chase has a $20 set up fee, a $50 initial deposit minimum and a $3 monthly admin fee.
|None||No HSA partner bank at this time.|
|Health Equity||Health Equity brochure, Enrollment option included with health insurance application. No set up or administration fees.|
Fiirst Horizon or Fifth Third Bank
|Humana online HSA bank comparison
Fees vary depending on HSA bank.
|Wells Fargo||Wells Fargo online enrollment. No set up fees, monthly administration fee of $3.25 waived when account balance is over $2,500. When you enroll online and list Kaiser Permanente as your HDHP carrier you will recieve the preferred fee schedule.|
|Optum Health||Optum Health HSA brochure, You can select Optum Health as your HSA administrator when applying for a HDHP with UnitedHealthOne. There is a $10 set up fee, $3 monthly administration fee and a minimum monthly deposit of $25.|
|Wells Fargo||(Formerly Wachovia), Monthly Administration fee of $4.25|
|Bank of America||Monthly Administration fee of $4.50, fee schedule|
|BB&T||Monthly Administration fee of $3.00|
|United Community Bank||Monthly Administration fee of $5.00 plus $25 set up fee, fee schedule|
|SunTrust||Monthly Administration fee of $5.00 plus $20 set up fee, fee schedule|
|Bank of North Georgia||Monthly Administration fee of $3.00, fee schedule|
|HSA Bank||Monthly Administration fee of $2.25. fee schedule|
|Health Equity|| Monthly administration fee of $3.95 and a $13 set up fee.
|Chase||Monthly Administration fee of $2.50.|