Health Savings Account

 New!  Now you can enroll online with a Credit Card.

HSA Application Form (paper)   HSA EFT Future Contribution Setup Forms (paper)   

HSA Bank's easy online administration services are brought to you by Your Benefit Resource! .  This program is very time efficient, simple to use, and low priced.  For just $ 2.25 per month, and a low $ 18 online setup fee ($ 25 if you enroll with a paper application), you may access your health savings account funds via either a VISA debit card or by writing a check just as you would from any other checking account.  This service works with any insurance company and is portable if you change insurance companies, health plans, or employers.  Unused funds may be rolled over into future years, much like a tax deferred retirement income account (except it is for medical expenses only). 

The IRS rules are simple: qualified coverage means a "qualified high deductible health plan" with a deductible of $ 1,100 or greater, per person.  You, or your employer (employer contributions are not required), may contribute up to $ 2,900 for a single person or $ 5,800 family for the 2008 calendar year.  Participants over age 55 may contribute an additional $ 700 per year as a catch up contribution.  Funds deposited are tax deductible, and any account earnings are also tax free. 

Expenditures may only be made for qualified medical expenses or long term care insurance premiums.  Here is a link to a listing of allowed expenses.  Please consult your CPA or tax advisor prior to making any tax related decisions about Health Savings Accounts.

Please complete the paper applications from the links above online, then print, sign, and return to my office for processing at the address below.  Include separate checks for your set up fee ($ 25) and initial contribution ($ 50 or more) payable to HSA Bank.   If you use the new electronic enrollment service above, there is no need to print and mail me a copy.  Please do, however, send me an email that you applied so that I can monitor the setup process.

You are encouraged to deposit each month, at a minimum, the savings you have attained from your prior health plan to the new HSA plan to pre-fund your future medical expenses and deductible.  Additional information on HSA plans may be found at http://www.hsabank.com/?ain=005913 - please direct your questions and paperwork to me personally via my office contact information below.

In order to view the forms you will need Adobe Acrobat 7.0 or greater. 

This is a free download at the link below.

Please contact us at the Source2@YourBenefitResource.com with questions or comments. Scott D. Johnson, CHRM Your Benefit Resource! 4745 Narvik Drive Eagan MN 55122-2669 (651) 340-5150 or toll free at (877) 865-3070    ©Copyright 2008 Your Benefit Resource! All rights reserved.