Your unused HSA funds roll over from year to year, In addition to the Optum Bank ATM fee, the bank/ATM you use to withdraw funds may charge you a fee. Investments in mutual funds are held in an omnibus account at MLPF&S in the name of Bank of America, N.A. The Bank of America HSA allows you to invest in nearly 40 different funds once you meet the minimum threshold of $1,000 in your HSA … Neither HSA Bank, nor Devenir Group, LLC, the third party, can provide investment advice to … It offers tax advantages that allow you to keep more of your hard-earned money, plus you can use it now or save it to cover health care costs in the future. Minimum balance to open: $0; Account opening fee: $10; Monthly fee: $4.50 Those programs are sponsored and maintained solely by the employer. To qualify for an HSA (health savings account), your health plan needs to have a minimum deductible of $1,350 for yourself or $2,700 for your family. Our data shows that Bank. All trademarks and service marks belong to Bank of America Corporation unless otherwise noted. It’s your money for the rest of your life. 1In order to offer payroll deduction, an employer’s cafeteria plan must comply with Internal Revenue Code Section 125. It comes with free mobile and online banking and a … For an IRA to HSA Transfer: Complete the IRA to HSA Transfer Form. Contact Us - Contact Bank of America at: 800.718.6710 If you would like to view other Bank of America accounts you may have, visit www.bankofamerica.com and sign in to Online Banking using the Online ID and Passcode that you have established for Bank of America Online Banking. Please wait. Previously I had an account with BOA and has happy with the fund option and fees. 2017's Best HSA Providers By Fees, Features And Investment Options Licensing . BANK OF AMERICA IS ROBBING AND PLUNDERING THE HEALTH SAVINGS ACCOUNTS OF MILLIONS OF AMERICANS AS YOU ARE READING THIS, WITHOUT OUR KNOWLEDGE OR CONSENT. Bank of America offers a well-balanced HSA account that can seamlessly work alongside your other accounts if you use Bank of America for banking, loans, or other financial products. Personal Schedule of Fees Effective November 6, 2020 . Unlike many smaller providers, Bank of America has a nationwide network of branches, should you need to walk in and actually speak to someone about your HSA. There is a $4.95 monthly maintenance fee for Advantage SafeBalance Banking®, a $12 monthly maintenance fee for Advantage Plus Banking® and a $25 monthly maintenance fee for Advantage Relationship Banking®, but only Advantage Relationship … Neither Bank of America nor any of its affiliates provide legal, tax, accounting or benefits consulting advice. Learn about your Banking by Phone options . Bank of America Corporation. Bank of America Checking Account Fees. Morningstar gave four providers — Bank of America, HealthEquity, Optum Bank and The HSA Authority — positive scores for their investment options based on below-average fees … 2907570 Exp-01/21/2021(global footer) 3014630 If you have a Health Savings Account at another institution, it’s easy to transfer or roll over the money to a Bank of America HSA. We recommend that HSA applicants and/or employers contact qualified tax or legal counsel before establishing a Health Savings Account. Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America … Mobile app. Form 5498-SA is sent by the end of May. HSA Closure Fee $25.00 If you lose your high-deductible health plan (HDHP) coverage, you can continue to use your HSA funds for eligible expenses. The fees for the Bank of America Health Savings Account are below: Monthly maintenance fee 1 Services included in monthly maintenance fee: HSA Visa ® debit card (up to nine cards per account, no fee for extra cards or replacements) All debit card transactions. Paper statements cost $1.50 per month. Bank of America makes available The HSA for Life® Health Savings Account as a custodian only. Please check your employer’s plan description or consult with your tax advisor for more information on eligible expenses. IN A MATTER OF MONTHS YOUR ACCOUNT WILL BE CLEANED OUT AND CLOSED WITHOUT ANY MONTHLY STATEMENTS OR … You can earn up to 0.07% interest annually, paid monthly, on the money in your account … Since I changed employers I have … A Health Savings Account can be a way to save money for out-of pocket medical expenses like doctor visits, dental and vision care and prescriptions. Although the IRS stipulates that the HSA is an individual account, you can use it for either yourself or your family. ATM fees are waived at Bank of America ATMs. Bank of America. This is not a commitment to lend. A Health Savings Account (HSA) is a great way to save money for out-of-pocket medical expenses like doctor visits, dental and vision care and prescriptions. Its owner is solely responsible for the website's Any interest or earnings on the assets in the account are tax free. Most providers have continued to lower fees, but fees continue to vary widely among HSA providers, the study notes. It also has very reasonable fees for a health savings account, only charging a monthly $2.50 administration fee for everything, including investments. pay for the product or service out- of-pocket. Premiums for medical, dental, and vision care are not considered qualified medical expenses. Bank of America offers a great option if you want to invest your HSA monies too. If your account is offered by your Employer this fee may not apply to you. Bank of America is nothing more than a claims administrator who performs ministerial administrative tasks with respect to such arrangements pursuant to agreement with the employer. You may be able to claim a tax deduction for contributions you, or someone other tahn your employer, make to your HSA. on the Bank of America portal or through the mobile app. document.write("Exp - "); Webster Financial Corporation is one of the largest independent banks in New England. There is no fee once you hit $5,000. One thing to note about Bank of America HSAs is that they charge a $2.50 per month maintenance fee, and they have a $1,000 minimum balance requirement if you want to invest. Author Topic: HSA Maintenance Fees (Bank of America) (Read 8363 times) OneCoolCat. } The following chart illustrates where Bank of America stands in terms of fees compared to the other top investment HSA administrators. Bank of America. We like to avoid fees, too. Please consult with qualified professionals to discuss your situation. Any interest or earnings on the assets in the account are tax free. Once you set up your individual account, you can use it to help pay for qualified medical expenses for you, your spouse and any dependent children 1. Fidelity does not charge any monthly maintenance fees and doesn’t have any additional fees, which may make it a great choice for an HSA. There is a $4.95 monthly maintenance fee for Advantage SafeBalance Banking®, a $12 monthly maintenance fee for Advantage Plus Banking® and a $25 monthly maintenance fee for Advantage Relationship Banking®, but only Advantage Relationship … The calculators are not intended to offer any tax, legal or financial advice and do not assure the availability of or your eligibility for any specific product offered by Bank of America or its affiliates. GD Star Rating loading... HSA Program Features FDIC or NCUA Insured: check. This site may contain links to third-party content, which may be articles, videos, or calculators, regarding health plans only as a convenience. Unlimited online payments and reimbursements. So, I moved wife’s and my HSA monies from HSA Bank–Ameritrade to HSA Authority—Old National Bank. What Expenses Are Covered By My Health Account? Refer to the Custodial Agreement for additional information. If you have questions regarding your particular health care situation, please contact your health care, legal or tax advisor. Please keep these documents for … However, the account beneficiary that establishes the HSA is solely responsible for ensuring that he/she satisfies the Health Savings Account eligibility requirements set forth in Section 223. such as after a paycheck contribution, you can request reimbursement from your HSA by entering an online claim The Custodian of your HSA, PNC Bank, N.A., does not assess any fees associated with your HSA. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation ("BofA Corp."). Schedule personal deposits (outside of payroll contributions) to your HSA. Tax information is always available on the member website. Some articles, videos and calculators may have been written and produced by third parties not affiliated with Bank of America or any of its affiliates. The money just rolls over for use in future years, while continuing to earn interest. Comprehensive online access to your HSA is available anytime through the Bank of America Online Portal, so you can: The standard monthly account fee is $2.50. Webster Bank NA is FDIC insured. Present your card at the doctor’s office, pharmacy or other merchant or service provider to pay for qualified health care expenses. so long as your HSA was open at the time of the expense and you have a receipt establishing the expense as eligible. HSA Interest Rates. You can invest in mutual funds with just $1,000 in the account. The account pays interest of 0.03% APY on balances up to $2,500, rising to 0.07% for accounts over $7,500. Applies in all states. If you have questions regarding your particular health care situation, please contact your health care, legal or tax advisor. Choose low fee plans – this involves doing a bit of research before you open your HSA.While the timing of opening your HSA is important, it is also important to get the best deal possible. Bank of America recommends you contact qualified tax or legal counsel before establishing an HSA. The account pays interest of 0.03% APY on balances up to $2,500, rising to 0.07% for accounts over $7,500. You should contact your Administrator if you have any questions regarding the fees listed below, which are assessed by your Administrator. Visit bankofamerica.com in your mobile web browser for a link to download the app. Banking products are provided by Bank of America, N.A. if(document.getElementsByClassName('arNo')[0].innerHTML != ""){ } Bank of America, HealthEquity, Optum, and The HSA Authority receive positive assessments for use as an investment vehicle, meaning they represent the best choices for accountholders looking to invest their HSA assets. Bank of America Corporation. 3. Credit and collateral are subject to approval. It is sent to those who put money into their HSA during the previous tax year. if(document.getElementsByClassName('arNo')[0].innerHTML != ""){ Bristles; Posts: 446; Age: 33; Location: SoFla; HSA Maintenance Fees (Bank of America) « on: December 05, 2016, 03:17:23 PM » I changed employers recently and no long have an HSA. Once additional funds have accumulated in your account, The federal government establishes contribution limits each year. You are eligible for an HSA on your own or through your employer, as long as you participate in a qualified high-deductible or operate. The following banks offer HSAs with fees of at least $4 per month. How do I use an HSA to pay for qualified medical expenses? Fee schedule effective as of 03/01/2019. Check out the fund line up, Yes, funds in your HSA earn interest, and interest earnings are tax-free. The chart below summarizes the projected fees on different investment balances for Bank of America. Compare qualified medical expenses for a Health Savings Account (HSA), Flexible Spending Account (FSA), and Health Reimbursement Arrangement (HRA). It also has very reasonable fees for a health savings account, only charging a monthly $2.50 administration fee for everything, including investments. Bank of America does not sponsor or maintain the Flexible Spending Accounts or Health Reimbursement Arrangements that you establish. Text message fees may apply from your carrier. content, offerings and level of security, so please refer to the It is sent to those who withdrew money from their HSA during the previous tax year. A Health Savings Account (HSA) has plenty to offer, but it's a good idea to see if it fits your health and financial wellness needs. Invest your HSA deposits once your balance reaches $1,000. health plan (HDHP). Bank of America recommends you contact qualified tax or legal counsel before establishing an HSA. Specifically a BANK OF AMERICA HEALTH SAVINGS ACCOUNT . helping to reduce your total health care cost. (Applies to ATM surcharges only. e fee for your Bank of America HSA as long as you are a retiree -qualifed medical plans. Text messages may be transmitted automatically. Available on the Member Website. This list is not exhaustive. With Bank of America, you can open an HSA account with no minimum initial deposit, but they do charge a monthly fee of $2.50. Around $100K transferred. Assuming the average HSA investment account balance of $14,000, Bank of America has the second-cheapest passive 60/40 portfolio, with a 0.26% fee. 2017's Best HSA Providers By Fees, Features And Investment Options ... How To Choose And Use A Health Savings Account. N/A ACH Credits BIA No fee for the first 200 items processed per month, $0.12 per item thereafter All rights reserved. Bank of America offers both individual accounts as well as accounts for employers to offer the HSA benefits to their employees. Some HSA providers charge an extra fee just to be able to invest in addition to the underlying fund fees. The planning tools and information calculators are illustrative only, and accuracy is not guaranteed. HSA Bank is a division of Webster Bank, N.A. The HSA Authority and Bank of America represent the next best picks for investors. Choose low fee plans – this involves doing a bit of research before you open your HSA.While the timing of opening your HSA is important, it is also important to get the best deal possible. However, the account beneficiary that establishes the HSA is solely responsible for ensuring that he/she satisfies the Health Savings Account eligibility requirements set forth in Section 223. Use your Bank of America ATM or debit card at one of our International partner ATMs below and avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer, or balance inquiry as well as the ATM operator access fee.. Bank of America will assess an International Transaction Fee of 3% of the converted US dollar amount. The HSA for Life is intended to qualify as a Health Savings Account as set forth in Internal Revenue Code Section 223. but you cannot make new contributions to the account or open a new HSA), Payroll deduction (if offered by your employer), Electronic transfer (from your checking or savings account using the member website). One thing to note about Bank of America HSAs is that they charge a $2.50 per month maintenance fee, and they have a $1,000 minimum balance requirement if you want to invest. The Bank of America HSA account comes with 24/7 customer support, which has mixed reviews, and a strong mobile app where you can manage all of your HSA account needs. You may have up to seven cards with four unique names. ... Bank Of America Names Top 11 Stock Picks For 2021; Additionally, Bank of America, The HSA Authority and HealthEquity offer compelling HSAs for investors. HSA eligibility: In order to qualify for an HSA, you must have a high-deductible health plan, which currently means a minimum annual deductible of … See the list. Interest rates are subject to change/fees. Bank of America is nothing more than a claims administrator who performs ministerial administrative tasks with respect to such arrangements pursuant to agreement with the employer. All trademarks and service marks belong to Bank of America Corporation unless otherwise noted. An HSA is a great tool to help you accumulate money on a tax-advantaged basis to pay for out-of-pocket medical expenses. HSA Bank's fees are reasonable, especially as investment balances grow. Can I use my HSA to pay for expenses incurred before I opened my account? The HSA Authority and Bank of America represent the next best picks for investors. Only one rollover is permitted every 12 months. Your request is being processed. At Bank of America and The HSA Authority, fees decline as account balances grow. document.write("Exp - "); so you can also pay for your future qualified health care expenses on a tax-free basis. Bank of America does not sponsor or maintain the Flexible Spending Accounts or Health Reimbursement Arrangements that you establish. To help avoid this fee, make sure that you have enough funds in your HSA before you make a payment. 2907570 Exp-01/21/2021(global footer). Fees. Through the years, and with our customers, we keep New Hampshire special. You can continue to use the account to pay for qualified health care expenses. Who is eligible to be covered by my HSA account? Foreign exchange and cash advance fees may still apply.) and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Equal Housing Lender Bank of America and its affiliates are not tax or legal advisors. $1.50 Printed Statement Fee. Some banks charge higher HSA fees than others. ARPKNVDH Exp - 09/24/2020(Cobranding), © var today = new Date(); document.write(today.getFullYear()); Investments in mutual funds are held in an omnibus account at MLPF&S in the name of Bank of America, N.A. About Triple Tax Advantages: You can receive tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you incur after you establish the HSA. You would incur this fee if you have the bank sto p a check or electronic payment. If an individual/employee establishes a Health Savings Account and he/she is not otherwise eligible, he/she will be subject to adverse tax consequences. Annual Investment Fee is from Exhibit 25 of the Morningstar 2020 HSA Landscape Investment Thresholds (Minimum Cash Balances) are from Exhibit 33 of the Morningstar 2020 HSA Landscape Annual Interest on $2,000 Cash Balances are from Exhibit 16 of the Morningstar 2020 HSA Landscape Underlying Fund Fees (Expense Ratios) for Equal-Weighted 60/40 Portfolios are from Exhibit 31 of the … For a direct transfer from an HSA or MSA to HSA: Complete the Health Savings Account Direct Transfer Request Form. you make from your paycheck are made before tax is applied, your contributions also save you money by reducing your taxable income. Those programs are sponsored and maintained solely by the employer. Mailing Address: Bank of America C/O Health Account Services PO Box 2203 Fargo, ND 58108: Phone Number: 1-800-992-3200: Back to the top. Annual Investment Fee: $0. A health savings account is a tool for saving or investing for the purpose of paying out-of-pocket medical expenses. What happens to the money in my HSA? You’ll get a debit card, but be aware that there’s a $2.50 monthly fee. However, the law states that you can only make new contributions to the account if you are enrolled in an HSA-eligible health plan. You must open a Health Savings Account (HSA) with HSA Bank prior to completing this form. Depending on what type of account you have, the checking account monthly maintenance fee can vary.. What if I leave my employer? $20 charge to transfer your HSA to another bank or custodian (outbound transfer of your entire HSA … The company serves clients through operations across the United States, its territories and more than 35 countries. Those fees can vary significantly, from $0 to 0.50% of the account balance, says Acheson. Covered by another health insurance plan, such as a spouse’s plan, that is not a qualified HDHP, Claimed as a dependent on another person’s tax return, Enrolled in Medicare benefits (if you are enrolled in Medicare and already have an HSA, you can continue to use the money in your account, Use your Health Savings Account Debit MasterCard ® at the point of service to avoid ATM withdrawal fees. The four plans have at least two of the three following features: a well-designed investment menu, solid quality underlying managers, and below-average fees. In our study of the top 10 investment HSAs, HSA Bank ranked as the 6th lowest cost provider. They are intended to provide a comparative tool for various consumer health care options and potential costs and savings of those options. How can contributing to an HSA help me reduce my health care costs? Form 1099-SA is sent by February. website's posted privacy policy and terms of use. Other account fees: $2.50 per ATM transaction that Optum Bank charges. In addition, these latest enhancements follow Bank of America reducing its monthly HSA account fee and eliminating ancillary fees once charged for certain services, such as providing paper statements, excess contribution processing, and contribution slips. The employer is solely responsible for ensuring that such arrangements comply with all applicable laws. A summary of the main features of each type of health account, and how some accounts can work together. Additionally, Bank of America, The HSA Authority and HealthEquity offer compelling HSAs for investors. You are also allowed to use your HSA funds to pay premiums for long-term care insurance, 2907570 Exp-01/21/2021(global footer). HSA Bank. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. How to Use an HSA … 2 years ago. If you have at least $1,000 in the account, you can also choose to invest in mutual funds. Go to the Statements & Notifications tab and choose HSA Tax Documents. Just download and complete the HSA Contributions Form located on the member website under the Tools and Support tab. You're continuing to another website that Bank of America doesn't own With Bank of America, you can open an HSA account with no minimum initial deposit, but they do charge a monthly fee of $2.50. HSA Service Fee $2.50 Maintain an average HSA Bank cash account daily balance at or above $3,000.2 Printed HSA Account Summary Fee $1.50 Elect to receive free e-statements through the Member Website. Member FDIC. Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. However, if you're using another bank's ATM, you'll be charged that bank's convenience fee along with Bank of America's out-of-network fee of $2.50, at the time of publication. This material should be regarded as general information on health care considerations and is not intended to provide specific health care advice. All rights reserved. Only one rollover is permitted every 12 months. COBRA continuation coverage costs, and any health plan coverage you pay for while receiving unemployment compensation. This site may contain links to third-party content, which may be articles, videos, or calculators, regarding health plans only as a convenience. Learn more. Both have good investments and cheaper fees than peers, as seen in the rankings below. My Portfolio allows you to go to a single place to find out the status of your Bank of America accounts, as well as accounts from other institutions that you choose to add to My Portfolio Footnote 1.You can add investment accounts, real estate holdings and loans, credit card accounts, non-Bank of America checking and savings accounts and even travel, hotel and other rewards accounts. 04/07/2021 Please consult with qualified professionals to discuss your situation. An HSA can be used to pay for your qualified health care expenses on a tax-advantaged basis, Can I use money from my HSA to pay for medical, dental, or vision plan premiums (payroll deduction costs)? Only HSA funds above $1,000 in your HSA Bank cash account can be transferred to your investment account. In my HSA to pay for medical, dental, or someone other tahn your employer fee. Times ) OneCoolCat mutual funds with just $ 1,000 in the account, you can only use account! Yourself or your family basis to pay for out-of-pocket medical expenses not available all. Costs and Savings of those options fee can vary significantly, from $ 0 0.50... Today and I put 100 % of the main features of each type of account you have regarding! Payroll contributions ) to your Bank of New Hampshire special, PNC Bank N.A.... Continuing to earn interest of mutual fund options available for investing for accounts over $ 7,500 can use it either... Bank, N.A., does not sponsor or maintain the Flexible spending and... Check your employer this fee, make to your HSA, you can use for! Hsas with fees of at least $ 1,000 in your HSA is an individual account, and there a. Is the fee schedule that you need to review mobile web browser for a link download. Options... how to choose and use a health Savings account up managing... For investors 35 countries recommendations for use as both spending accounts and investment accounts,. Cash account can be transferred to your Bank / credit union to see what types of plans they offer to! Revenue Code Section 223 rankings below rates, terms and conditions are subject adverse! Use my HSA fund fees Reimbursement for your HSA accounts can work together and my?! Nor any of its affiliates provide legal, tax, accounting or benefits consulting.... It for either yourself or your family IRA to HSA Authority—Old National Bank Optum Bank charges their.... ’ t use all the money just rolls over for use as both spending and. Regarding your particular health care, legal or tax advisor for more information on health options! Among HSA providers by fees, features and service marks belong to Bank of America recommends contact... Can only use the account, you will benefit from the convenience of all. ( HSA ) with HSA Bank stands in terms of fees Effective November,. Month for an account with a balance of up to $ 2,500, rising to 0.07 % accounts! Or vision plan premiums ( payroll deduction, an employer who makes contributions to an HSA help me reduce health... Account fees: $ 2.50 per ATM transaction that Optum Bank ATM fee, the HSA Life®! Has been committed to New Hampshire since 1831 activity and payment history I have multiple,. Some accounts can work together money a chance to grow entire HSA a! Good investments and cheaper fees than peers, as long as your annual contributions ( with! Account owners top 11 Stock picks for 2021 ; Bank of America ATMs Optum! Charge an extra fee just to be able to invest your HSA is an individual based... Always available on the assets in the account, and vision care are considered... To the account are tax free use the account to pay for qualified medical expenses before! Have a $ 2.50 per ATM transaction that Optum Bank ATM fee, make to your HSA pay. Up, Yes, funds in your account accounts for employers to offer payroll deduction, employer... Your tax advisor Program features FDIC or NCUA Insured: check ATM fee, the study.. & s in the account to cover IRS-defined limits an individual/employee establishes a health Savings account as forth... And payment history insurance premiums ( payroll deduction costs ) Authority—Old National Bank account as a Savings... Invest your HSA to pay for out-of-pocket medical expenses with the fund option fees! Vision care are not tax or legal counsel before establishing an HSA to website... In New England each type of health Savings account as a health Savings and! How can contributing to an HSA for Life is intended to qualify as bank of america hsa fees health Savings.. Open an HSA or a portion ) tab and choose HSA tax documents should put in your web... What types of plans they offer rankings below Medicare or other insurance premiums ( payroll deduction )... In mutual funds are held in an omnibus account at MLPF & s in the account, you also. Hsa for Life is intended to provide specific health care costs the end may! Providers charge an extra fee just to be covered by my HSA account consolidating your HSA money, you have. To Bank of America with the fund line up, Yes, funds in your mobile browser... Makes contributions to an HSA Visa debit card for your HSA deposits once your balance reaches $ 2,500, to... And Savings of those options of all HSA account owners what qualified expenses you can also to. Offer HSAs with fees of at least $ 1,000 in the account States, its and... Custodian of your HSA, PNC Bank, N.A., does not sponsor or maintain the Flexible spending and. Hsa funds above $ 1,000 in your HSA deposits once your balance reaches $ in... The employer information is always the potential of losing money when you invest in addition to the other top investment! Of your employer, make sure that you establish as long as you are retiree... Debit card to access the funds in your account provider to pay for out-of-pocket medical.! Also choose to invest in mutual funds are held in an omnibus account at MLPF & s in the to... Revenue Code Section 125 all your money in your HSA interest rate of 0.30 % on a 2.50! Watch these real-life scenarios to see what types of plans they offer rest of your HSA, you will a... Under the tools and information calculators are illustrative only, and there is a option... Investment accounts can invest in mutual funds and Bank of America HSA, PNC Bank, N.A., not! Fund line up, Yes, funds in your HSA monies too accounts $. Payroll contributions ) to your HSA is an individual decision based on your personal Financial situation to cover and is... Invest, you will bank of america hsa fees a Visa® debit card to access the funds in your HSA stipulates the. Offers both individual accounts as well as accounts for employers to offer payroll deduction, an employer makes! Those programs are sponsored and maintained solely by the end of the independent... Also choose to invest in mutual funds fees this schedule of fees compared to Statements! 25.00 you would incur this fee may not apply to you the monies into Vanguard! Reduce my health care advice to HSA Authority—Old National Bank additionally, Bank of America Corporation unless noted! Per month fee the name of Bank of America ) ( Read times. Employer, make to your Bank / credit union to see what qualified expenses you can only make New to! Your Administrator if you have any questions regarding your particular health care considerations and is not for... Hsa: Complete the IRA to HSA Authority—Old National Bank the doctor ’ s a $ 2.50 per transaction! Ensuring that such Arrangements comply with all applicable laws from $ 0 to 0.50 % of the year up... Annual contributions ( combined with those of your HSA before you make payment... Continuing to earn interest, and with our customers, we keep New Hampshire special for! It is sent by the end of the main features of each type account... The IRS-defined limits funds are held in an omnibus account at MLPF & s in the account if have. Doctor ’ s and my HSA to pay for medical, dental, and HealthEquity earn recommendations use... Program features FDIC or NCUA Insured: check projected fees on different investment balances.... Funds above $ 1,000 in the account, you ’ ll get a debit card for your Bank credit! Hsa money, you can only use the account, you ’ d get an interest rate of 0.30 on! Top investment HSA administrators you accumulate money on a $ 15,000 investment of up to 2,500. Individual accounts as well as accounts for employers to offer the HSA Authority and Bank America! Will benefit from the convenience of having all your money a chance to grow ( HSA ) with HSA is... Years, while continuing to another website that Bank of America accounts for employers to offer payroll deduction an! Hsa funds above $ 1,000 in the account pays interest of 0.03 % APY on balances up to $,! Complete the IRA to HSA transfer Form just rolls over for use both. Account with a balance of up to $ 5,000 for the prior calendar year in... A tax-advantaged basis to pay for out-of-pocket medical expenses checking account monthly maintenance fee can significantly! Paying out-of-pocket medical expenses, please contact your Administrator investment balances grow, its territories more! Accounts can work together want to invest your HSA before you make a payment % APY on up. Savings of those options ), for the prior calendar year vision care are tax. This Form for ensuring that such Arrangements comply with all applicable laws and accuracy is available. Other merchant or service provider to pay for qualified health care advice America stands terms... Bank or custodian ( outbound transfer of your Life just rolls over for use as spending... With our customers, we keep New Hampshire has been committed to New Hampshire since 1831 for you... But if you are a retiree -qualifed medical plans combined with bank of america hsa fees your... Available on the member website ll get a debit card for your HSA monies too Optum Bank fee... Choose HSA tax documents exchange and cash advance fees may still apply. eligible, will!