HSA Bank Expert Review, Pricing, Alternatives - 2022
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Learn moreWe love HSA Bank because of its ease of use. It is also easy to set up, enabling businesses to get started hassle-free.
Pros
Cons
What's Inside
As the name suggests, HSA Bank has a broad offering of products that include HSAs, FSAs, and HRAs. They have over $7 Billion in accounts at any given time, and are backed by their parent company Webster Bank (NYSE: WBS). HSA Bank also has a handy HSA comparison tool on their website.
- Partnered with 35,000 employers
- HSA custodian and administrator
- Health insurance carrier neutral
- Different investment options
- 24/7 support
- On-demand reporting
HSA Bank will work with your payroll provider to ensure contributions are properly deducted.
Electronic enrollment takes one business day as long as employee files are correctly formatted. Paper applications take about two business days after HSA Bank receives them.
Not only is Fidelity a reliable provider, but their HSA is both transaction and free from fees. They offer financial planning and advice, retirement plans, wealth management services, and more.
We love HealthEquity because it provides a good selection of custom integrations to streamline benefits workflows.
BenefitWallet tailors their HSA experience to your company's specific needs. They offer a personalized and simplified approach to managing health care costs and accumulating wealth through health accounts.
We love Further because they offer competitive interest rates that grow the more you save. They combine health and finance in a seamless and understandable manner.
We love Lively because it is a venture-backed HSA with an intuitive user interface. It can also be used on mobile devices which is convenient for on-the-go access.
At Optum Bank, they put in the effort to educate employees and employers to ensure everyone knows what to expect and how to derive the most value from health savings accounts.
