You can always ask questions about this tool in our free HR Tech Buyers Community.
We love HSA Bank because of its ease of use. It is also easy to set up, enabling businesses to get started hassle-free.
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.
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.
HSA Bank will work with your payroll provider to ensure contributions are properly deducted.