The HSA Report Card

The HSA Authority S

The HSA Authority


The HSA Authority powered by Old National Bank stands apart as one of the most experienced Health Savings Account administrators, as they were among the first to bring HSAs to the market in 2004. Chosen as HSA Trustee for the State of Indiana employees, today they provide customized HSA solutions for employer groups and individuals in all 50 states.



Report Card for The HSA Authority

as a Spending Vehicle



Fund Access








Fees for Individuals (Non-Employer Group)

The best HSAs for spenders are characterized by low maintenance fee. The HSA Authority does not charge HSA spenders a maintenance fee.

The best HSAs for spenders also have very few additional fees that are layered on top of the maintenance fee. These fees are not recurring in nature, but can be incurred by the account holder if they undertake a certain action. The HSA Authority fee schedule is littered with a ton of potential fees account holders can incur if they get sloppy with their HSA management.

Below we have reconstructed The HSA Authority's fee schedule to exhibit fees spenders are most likely to encounter.

The HSA Authority Fee Schedule
  • Monthly Fees

  • Maintenance$0

  • Investment$3

  • 1Paper Statements$2

  • Behavioral Fees

  • Excess Contribution$20

  • Overdraft$38

  • Stop Payment$38

  • Point of Sale$0

  • 2ATM Withdrawal$2

  • Check Distrtibution$6

  • Rollover$25

  • Transfer$25

  • Closing$25

  • Replacement Card$7
1 Free electronic statements
2 Free ATM withdrawal within Old National Bank ATM network

Below is a heat map chart that you can use to compare The HSA Authority's fees with the other top HSA administrators in our study.

Highcharts Tutorial



When you, your spouse, and your dependents have qualified medical expenses that aren’t covered by your health care plan, you can use your HSA money tax-free to pay for them. There are multiple ways you can spend from your HSA.

(✔) Debit Card

Pay for expenses with a separate card dedicated to your HSA.

(✔) Bill Pay

Pay for medical expenses using online banking at no additional cost.

(✔) Checks

HSA checks are also a convenient way to pay for eligible medical expenses.



You can pay for qualified medical expenses out-of-pocket and reimburse yourself anytime using your HSA money. As long as you opened your HSA before the expense was incurred, your reimbursement will be tax-free. You can:

(✔) Transfers

Use free Online Account to Account Transfer to transfer funds between accounts at other financial institutions and your HSA.

(✔) ATM Withdrawls

Visit an Old National Bank (ONB) Branch or ATM to make a withdrawal. There is no fee for withdrawals at an ONB Branch or ATM.

(✔) Checks

Use free Online Bill Pay to request a check be sent to you OR write an HSA check to yourself.




Dedicated HSA Team 

Access to of team of HSA expert customer service representatives.

Account to account transfers

Make transfers immediately, schedule one for a future date or set up recurring transfers to move money between your HSA and accounts at different banks or credit unions.


Locate affordable generic drug programs available across the country with many drugs costing as little as $4. If a medication is available at a discount, a list of pharmacies in the area is presented along with pricing. As an added value, Medtipster also offers area flu shot, immunization, and health screening searches. 

Health Information Links

Informational websites for individuals to compare important hospital quality data and gather reliable information on diseases, health conditions and wellness issues.

HSA Resources

  • Retail pharmacy discount programs and their websites to help locate the best price possible

  • Healthcare and prescription drug cost-saving strategies to assist in finding and negotiating the best price

  • An expense tracking sheet is available to help start tracking eligible medical expenses.


Pros & Cons

  • No maintenance fees

  • Multiple reimbursement methods

  • Experienced customer service reps

  • Long history of administering HSAs
  • Potential to eventually "run into" a fee. Long list of potential fees

  • No receipt storage tool

  • Plain vanilla offering. Feature poor compared to its competitors


Which participants are best suited for an HSA from The HSA Authority?

  • Those who are seeking a fee free HSA. No monthly maintenance fee. However, some fees can be incurred if you are not an experienced HSA account holder.

  • HSA account holders who are very organized. The HSA Authority doesn't do a great job of providing participants with tools that make it easy to keep good records.

  • Dual-purpose use (spender/investor). The HSA Authority is a top 10 investment HSA.


Other In Depth Reviews


The HSA Report Card Blog