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.

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 behavioral fees. Behavioral fees are not recurring in nature, but can be incurred by the account when they execute a certain action. The HSA Authority fee schedule is littered with a ton of behavioral 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.

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.

Value Added

This is a new criteria we added to our analysis of HSAs for spenders. We realize that fees charged by administrators are important for account holders, but that is the lowest hanging fruit. Participants can achieve greater savings when administrators give healthcare consumers everything they need to make smart health care spending choices including digital tools and informative spending account resources.

First and foremost, account holders need a readily available tool that exhibits eligible expenses. The list of expenses is ever growing and consumers should be equipped with an easy to use tool. Also, a tool that combs through a participants credit cards and bank accounts for eligible expenses is a nice feature.

Administrators can go even further to help spenders save money on healthcare expenses by partnering with healthcare companies providing eligible medical expenses on the servicing or product side of the equation.

Payments

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. HSA administrators should make it easy to access your HSA dollars. The best HSAs for spenders allow participants to pay for qualified medical expenses in multiple ways (debit card, virtual card, bill pay, and check).

The HSA Authority lets participants pay for qualified medical expenses with a debit card, bill pay, and checks.

Reimbursement

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. When you pay for qualified medical expenses out-of-pocket, you should be able to access your HSA dollars multiple ways whether it be via online transfers, check disbursements, or ATM withdrawals.

Generally speaking, the best way to reimburse yourself is with electronic funds transfers (EFTs) that are processed through the Automated Clearing House (ACH) network. EFTs are easy, speedy, cost-effective, paperless, safe and secure.

The HSA Authority participants can reimburse themselves via transfers, ATM withdrawals and checks.

Features

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.

Medtipster

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

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.

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