HSA Banks & Credit Unions

 HOW Do I Open a HSA Checking Account?

Once you’ve determined your HSA eligibility, opening an HSA checking account at an approved HSA custodian will be the first thing on your list as an eligible Health Savings Account owner.  It’s rather easy, and there are a number of banks who specialize in HSA’s. When your bank understands HSA’s, your chances rise of having a positive HSA experience.

We’ve put together a list of the best HSA bank and credit union custodians. Let these HSA experts take care of you by clicking on the links below or to the right and get connected to their online HSA checking account applications.

To learn how to invest your HSA in stocks or mutual funds, visit our HSA investment custodians page.

When comparing HSA checking accounts, be sure to compare the following features:

  • Interest rates – money markets and CD’s
  • Monthly fees and set up fees (average $3/mo and $10 set-up)
  • Debit card & fees, checkbook cost, or online payment abilities
  • Online banking access / Customer service
  • Stock investing option or FDIC insurance?
Tip: Don’t procrastinate!  Only medical expenses AFTER your bank account is opened are eligible for tax free treatment. Do yourself a favor and be sure to open a (HSA) Health Savings Account with a minimum balance soon after the effective date of your HDHP health plan.
Tip: While it is purely a financial decision, most would be better served if they kept their HSA savings account in a safe, interest bearing money market until at least you have reached a balance that will satisfy your health plan deductible. Once reached, you may want to look at investing future contributions in other riskier investments like mutual funds to save for your more expensive projected medical cost years during retirement.

Beware: Low interest rates like today plus monthly fees can cause a reduction of principal.


HSA Bank
HSA Bank – HSA Bank is a Milwaukee-based company and one of the nation’s leading Health Savings Account (HSA) administrators. We serve more than 300,000 accountholders with nearly a billion dollars in HSA assets. We focus solely on the administration, service and support of our HSA product. Our philosophy is to do what we do best and partner with others who do the same to provide a best-of-breed solution.


HSA Resources – was founded by two attorneys dedicated to making Health Savings Accounts conveniently available to as many Americans as possible. Our goal is to make opening, managing and accessing your HSA easy and rewarding.


First American Bank – A Health Savings Account (HSA) from First American Bank is a great way to save for your health care deductible, while taking advantage of tax savings.


The Bancorp Bank – one of the top financial institutions administering HSAs and a leading HSA custodian, is an FDIC-insured online commercial bank that delivers a full array of financial services and products directly and through affinity partner programs nationwide. As the industry leader in private-label banking, we employ a partnership approach with benefit administrators, consultants and advisors, insurance carriers, TPAs and employers.


Blackhawk Bancorp, Inc. – is the bank holding company for Blackhawk Bank. Blackhawk is dedicated to market differentiation as another key element of its success, with Health Savings Accounts proven to be valuable to the company’s growth and vision. Blackhawk’s directors, management team and associates are committed to being a top performing organization for the benefit of shareholders, bank clients, and the communities Blackhawk Bank serves.


Sterling HSA – Welcome to Sterling Health Services Administration! We’re a leading administrator of health savings accounts, health reimbursement arrangements, flexible benefit plans, COBRA and other consumer directed healthcare services that put our clients in control of healthcare spending and in touch with resources to manage their money and their health. We provide expert education and superior execution because we know the health insurance and banking industries. We provide high touch customer service online, on the phone and in person because we understand that you deserve it and want nothing less for yourself, your family and your employees.


Delta Trust Bank
Delta Trust Bank – Delta Trust Bank offers Health Savings Accounts (HSA). A tax-exempt trust or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse and your dependents. If the account is not in overdraft, there are no service charges associated with this account.* Free Internet Banking and Delta Trust HSA Debit Cards are also available.


Health Savings Administrators
Health Savings Administrators – Health Savings Administrators was formed in 1997 to offer Vanguard no-load mutual funds to Health Savings Account (HSA) holders nationwide, thus allowing our customers to avoid the high cost of commissions on investment choices. For new HSA accounts, we offer an attractive alternative to your insurance company’s checking account. For existing accounts, you don’t have to change your insurance company to select our program. Simply download our Health Savings Account Transfer Form and send it to us. We will process your request and forward it to your existing custodian.


Optum Health Bank
OptumHealth Bank – Member FDIC, is dedicated to providing products and services that help people plan, save and pay for health care costs.


Choice Financial Group
Choice Financial Group – Choice Financial Group offers Health Savings Accounts (HSA). Choice Financial was formed as the result of a merger of four local banks in seven locations. Those banks were formerly known as First State Bank Langdon, Citizens State Bank Grafton – Petersburg (with locations in Grafton and Petersburg), First Capitol Bank of North Dakota (with locations in West Fargo, Goodrich, and Hurdsfield), and Walhalla State Bank.


Wells Fargo
Wells Fargo – Now is the time to consider a Wells Fargo Health Savings Account (HSA). Learn how to save and pay for your medical expenses tax-free.

 


 

HSA Bank

 


 

 


 

 


 

 


 

 


 

 


 

Delta Trust Bank

 


 

Wells Fargo

 


 

Optum Health Bank

 


 

Health Savings Administrators