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Choosing an HSA Plan

This page introduces and compares the different HSA plans we offer.

Overview 

Your HSA plan determines the rate of interest you can accrue on your HSA balance and also any monthly participant fees you must pay for your account. Some employers will choose the HSA plan type for their group and will not let employees change to a different plan type. If you are not sure whether you can choose your own plan, check with your employer or benefits administrator.

Choosing a health savings account (HSA) is an important step in managing your current and future health care expenses. This unique, tax-advantaged account gives you the flexibility, security and control necessary to meet changing health care needs. Choosing SelectAccount as your HSA administrator is equally important because with SelectAccount you get the benefit of our innovative account options, online management tools and industry expertise — topped off with no hidden banking fees.

Which will you choose?

PremiumSaver HSA
All-inclusive, high return option with Wallet Doc consumer tools.

SelectSaver HSA
FDIC insured account with an investment option.

BasicSaver HSA
Value option with industry leading rate of return.

ThriftSaver HSA
Low fee account with an investment option.

FreeSaver HSA
Online only, no fee account option

Additional feature

Wallet Doc
Consumer tools aimed at increasing the buying power of individual account holders.

HSA Plan Options

 

PremiumSaver SelectSaver* BasicSaver ThriftSaver FreeSaver

Participant Fees

$4.00/PAPM

$3.00/PAPM

$2.50/PAPM

$1.00/PAPM

$0.00/PAPM

Wallet Doc  Consumer Tools1

Included

$1.50/PAPM

$1.50/PAPM

$1.50/PAPM

$1.50/PAPM

Account Opening or Closing Fees

$0.00

$0.00

$0.00

$0.00

$0.00

Account Setup/Enrollment

Online & Paper enrollment

Online & Paper enrollment

Online & Paper enrollment

Online & Paper enrollment

Online Only

Debit Card

$0.00

$0.00

$0.00

$0.00

$0.00

Replacement Debit Card

$0.00

$0.00

$0.00

$0.00

$0.00

Contributions2

ACH or paper check

ACH or paper check

ACH or paper check

ACH or paper check

ACH Only

Over Contribution Fee

$0.00

$0.00

$0.00

$0.00

$0.00

Deposit Item Return Fee

$0.00

$0.00

$0.00

$0.00

$0.00

Withdrawals

ACH or paper check

ACH or paper check

ACH or paper check

ACH or paper check

ACH Only

Stop Payment Fee

$0.00

$0.00

$0.00

$0.00

$0.00

Tax Statements

Online and Paper

Online and Paper

Online and Paper

Online and Paper

Online Only

*The SelectSaver HSA is FDIC Insured

1 Enrolling in Wallet Doc requires a 12 month commitment.
2 Contributions are made via ACH deposit. ACH are electronic payments made through the Automated Clearing House Networks used for financial transactions in the U.S.

Account Credit Rates3

As you compare HSA programs, be sure to ask how interest is calculated. SelectAccount keeps it simple so you earn the stated rate on the entire account balance. Some banks pay interest based on the balance and rate in each balance tier.

Base Balance

PremiumSaver

$4.00/month

SelectSaver*

$3.00/month

BasicSaver

$2.50/month

ThriftSaver

$1.00/month

FreeSaver

$0.00/month

$0-$499 1.05% 0.07% 0.25% 0.05% 0%
$500-$999 1.05% 0.07% 0.25% 0.10% 0%
$1,000-$1,499 1.05% 0.07% 0.40% 0.10% 0%
$1,500-$2,499 1.05% 0.07% 0.40% 0.20% 0%
$2,500-$4,999 1.05% 0.07% 0.40% 0.20% 0%
$5,000-$9,999 1.05% 0.07% 0.50% 0.20% 0%
$10,000-$24,999 1.15% 0.07% 0.75% 0.30% 0%
$25,000-$49,999 1.75% 0.07% 1.00% 0.50% 0%
$50,000 or greater 2.00% 0.07% 1.25% 0.70% 0%

*The SelectSaver HSA is FDIC Insured

3 Subject to change, based on the bank rate.

Investment Account Options

The FreeSaver HSA plan type does not allow for investment options.

Account type

Available funds

Annual account service fees*

Base Balance

Funds in the Base Balance earn interest at rates set by SelectAccount. Members may leave all funds in the base account.

Annual fees vary

Basic Investment Account

When a member's Base Balance exceeds $1,000, you have the option to invest the amount over this threshold in a variety of pre-selected mutual funds.

An additional $18.00 per year**; this fee is paid out of the Basic Investment Account

Self-Directed Brokerage Investment Account

When a member's Basic Investment Account exceeds 

$10,000, member has the option to invest the amount over this threshold in a wider range of mutual funds as well as stocks, bonds and other investments.

An additional $18.00 per year**; this fee is paid out of the Self-Directed Brokerage Investment Account.

*These fees are in addition to any HSA account administrative fees that SelectAccount may charge.
**This fee will not be doubled for members with both a Basic Investment Account and a Self-Directed Brokerage Investment Account.

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