Health Saving Accounts - Health Savings Accounts Administrators
Here is a list of stand-alone HSA and often HSA administrators. Make sure to contact them directly to verify fees and availability. The two that we have received the best feedback on are FirstMSA and MSABank.
| Name, Address, Phone | Set-up fees | Admin. fees | Accountholder Options |
|
First
MSA application account info rollover www.firstmsa.com |
$25 | $5.00/mo. | access to investment services after $1,000 in account; 2-5% interest on money in account per schedule; FDIC insured |
|
MSA
Bank application account info www.msabank.com |
$18 | $1.75 month if under $3000 balance | debit card and checks; FDIC insured; money market interest or option for brokerage account |
| American
Health Resources *
PO
Box 8847
|
$15 | $4.50/mo. | Can
deposit in either "money
market-type funds or securities".
Can "self-direct" investments. AHR Can pay provider or reimburse accountholders. |
| American
Health Value
PO
Box 8063 |
$25
indiv. or $30 joint |
$3/$4.50/or
$8.50
per mo. depending on plan chosen |
Visa
Debit
Card and checks. Can select money market
or Delaware Funds (min. balance = $1250)
RX card, nurse line, & Dr/Hosp. Discount plans available. |
| Benefit
Administrators
1009
Oak Hill Rd, 3rd Floor |
$25/Gateway
Bank or $35/Wells Fargo Bank |
$3/mo. (Gateway) or $2/mo. (Wells Fargo) | Will
process reimbursement requests or
provide checks [disbursement fees = $5
(Gateway) or $10 (Wells Fargo)].
Custodial Fee (Wells Fargo) $39/yr. Min. account balance for investments = $2500 (avail. thru Wells Fargo only)] |
| CMS
Administrators
576
B Street
|
$10 per employee | Varies
by size of
account |
Works
only with non-tax-qualified
Market. Reimburses insured for medical expenses from the "MESA, Medical Expense Savings Account" |
| Lake
Forest Funds
270
E. Westminster Rd, 3rd Flr
Lake Forest, IL 60045-1899 |
No set-up fee | No
Admin. Fee
Ann. Custodial fee $15 Acct. liquidation fee = $15 |
Minimum account balance = $1000 |
| MECA
PO
Box 17190 |
$50 | $3/mo.
Renewal fee for groups of 2-9 = $30 |
Investments in mutual funds from first dollar (Annual fee of $24 for access to focus fund group.) |
| Medical
Savings Accounts/Utah
1341
S. State St, 310A |
No set-up fee | $5/mo. | Money market bank accounts only |
| Medical
Savings of America
960
Broadway St, 505 |
$12 | $2/mo. | Visa debit card or checks. |
| MediSmart
1501
WestCliff Drive, 310 |
Medical
Retirement
Accounts (MRA) $500 set-up fee |
Medical
Retirement
Account (MRA) Only $25/mo/ |
Refers all MSA account requests to American Health Value, MSAver Resources or Merrill Lynch. Pays %Of fees on the MRA to brokers. |
| MSAver
Resources, Inc.
7400
W. 110th St., 520 888-327-9672 |
Fees
presently being restructured.
Please call |
Fees
presently being restructured.
Please call |
Options being expanded. Please call. |
| Prime
Health
4640
W. 77th St., 214 612-844-0977 |
$25
per person
|
$5/mo.
Per person
$50 or 10% termination fee. |
Money market only. Will reimburse either provider or accountholder. |
| SSgA
Funds
Po
Box 8317
|
No set-up fee | No
admin. Fees.
Annual maintenance fee= $75. Check writing privileges @ $10/checkbook |
15 different funds available with a minimum investment of $250 per fund. Automatic investments and telephone exchanges allowed. |
| State
Bank of Howards Grove
211
N. Wisconsin Drive 920-565-3351 |
$12 for bank account none for mutual fund account | $1/mo.
(bank acct) $1.75/mo. (brokerage
account)
|
May choose bank money market acct. or from 3000 mutual funds. (Trading fees start at $14.95 per trade) Minimum initial deposit of $100 |
| Trident
National Corporation
3500
Grove Ave. 804-354-0697 |
$15 | $30
indiv./$60 fam./ year
1.1% x Balance Cust. Fee/Yr. |
May
choose from 6 no-load mutual funds or
money market
|