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The Time
HSA Tools* account comes with two different monthly
fee structures:
- Free
account - To open your Time HSA Tools account with no
monthly fees, you must set up a monthly direct deposit of
at least $50 per month. Otherwise, there is a $3.95
monthly fee..
-
Assurant HSA Tools - See the brochure
 .
This option gives customers easy access to their funds via
a VISA debt card and a checkbook, mutual fund investment
options, and online access to view all activities of their
HSA account. There is also a line
of credit available which you can use to cover medical
expenses if you do not have enough money yet in your HSA.
This plan has a one-time $50 opening fee, but no monthly
fee.
With either
option, you have easy access to your funds via a VISA debit
card and a checkbook, mutual fund investment options, and
online access to view all activities of your HSA account.
*
Pursuant to a Service Agreement, UMB Bank, n.a. serves as
custodian for the HSA arrangements offered through Time Insurance.
HSA customers who meet certain minimum deposit requirements
(presently $2,000) are eligible to direct UMB Bank, as their
custodian, to open an investment account for their HSA with
UMB Scout Brokerage Services, Inc., member NASD, SIPC, a subsidiary
of UMB Bank. UMB Scout Brokerage Services, Inc. is not
otherwise affiliated with Time Insurance.
Investment
products are: NOT FDIC INSURED, MAY LOSE VALUE, NO BANK GUARANTEE
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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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None
or
$3.95
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None
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| Access
Fee: |
None.
Basic account customers must submit a withdrawal form
to Time for disbursement (approx. 2 weeks). HSA
Tools customers have access to a VISA debt card
and a checkbook. |
Investment
Options:
- 3%
is paid on the entire balance once the account holder reaches
a balance of $5,000.00 and higher
- 2%
is paid on the entire balance once the account holder has
a balance of over $749.99, but less than $5,000.00
- No
interest is paid if the balance is $749.99 or less
| Perks: |
No
cost to set up and easy to use.
HSA
Tools:
- Online
HSA Deposits Available: With HSA Tools,
you can schedule HSA deposits directly into your account.
You can make single contributions or set up recurring
contributions from a personal account.
- Online
access to view all activities of your HSA account
- Access
to a wide variety of nationally recognized fund families
through UMB Scout Brokerage
- Access
to PharmaAdvisor online for unbiased, credible
drug information
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Basic
application HSA
Tools Application
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
information on how to get instant quotes and choose a plan
that is qualified to work with a health savings account,
please visit our "How
To" Guide page.
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