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Discovery
Benefits is a national leader in flexible
benefit, HSA, HRA, and COBRA. Discovery
Benefits partners with its sister company,
State Bank & Trust
who is custodian and provides investments for the HSA
account holder. Both companies are wholly-owned
subsidiaries of State Bankshares,
Inc.
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Setup
Fee
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Closing
Fee
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Minimum
Opening Deposit
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Monthly
Fee
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Annual
Fee
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None
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None
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None
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$3
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$25*
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*
Applies to individuals and groups with 10 or less.
Waived for groups 11 or more.
| Access
Fee: |
- None
for on-line withdrawal or faxed request (use
own credit card earning miles or points, request
withdrawal on-line with free direct deposit
to your checking or savings account)
- $1.00
per month for debit card
- Minimum
$1,000 balance required for debit card option
selection
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Investment
Options: |
- FDIC
Insured Money Market Account (variable rate)
- Vanguard
Value Index Fund
- Vanguard
500 Index Fund
- Vanuguard
Mid Cap Index Fund
- Vanguard
Wellington Fund
- Vanguard
Short Term Federal Fund
- Vanguard
GNMA Fund
- Vanguard
Total Bond Market Index Fund
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| Perks: |
- Works
with any HDHP coverage or carrier
- On-line
withdrawal requests and account inquiry
- May
change investment allocations on-line at any
time
- Free
direct deposit
- Maximum
two business day turnaround on withdrawal requests
- No
minimum deposit
- No
minimum cash balance when using the on-line
withdrawal request and free direct deposit
- No
limit to the number of transactions when using
free direct deposit
- No
custodial fees added by DBI to Vanguard Funds
- No
transaction or one-time charges to set up your
account
- Debit
card option available (minimum cash balance
requirement applies)
- No
one-time set up charges, ongoing transaction
charges or custodial fees added by DBI to the
Vanguard Funds
- Their
“Check-O-Matic” feature allows you
to have a fixed dollar amount deducted directly
from the account of your choice on a monthly
basis, and transferred to your HSA
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You
can visit Discovery Benefits
at www.discoverybenefits.com
Open
the Discovery
Benefits application 
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Disclaimer:
The information listed above is current to best of our
knowledge. Please visit this administrator's web site
or contact them directly to confirm you have the most current
information available.
HSA
for America is an independent health insurance
agency specializing in high deductible health plans qualified
to work with health savings accounts. We provide a list
of recommended HSA administrators as a service to our visitors
and customers. We are NOT an administrator ourselves.
If you have a question for a specific administrator, please
contact them directly.
For
a list of the administrators we recommend, please visit our
HSA Administrators page.
For
an instant quote on health insurance plans that are qualified
to work with a health savings account, please visit our Instant
Quote page.
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