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



Standard Plan Fees (non-Employer Group)

The best HSAs for spenders are characterized by low maintenance / administrative fees. 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 / administrative 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.

Monthly Recurring Fees

Maintenance / Administrative $0
*Paper Statements $2
*Free Electronic Statements

Behavioral Fees

Excess Contribution $20
Overdraft / NSF $38
Stop Payment Request $38

Transaction / Reimbursement Fees

Point of Sale $0
ATM Withdrawal - Within Old National Bank ATM network $0
ATM Withdrawal - Outside Old National Bank ATM network $2
Check Distribution $6

Termination Fees

Transfer $25
Rollover $25
Closing $25

Miscellaneous Fees

Debit Card Issuance $7

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



  1. Visa Debit Card - Pay for expenses with a separate card dedicated to your HSA.

  2. Online Bill Pay - Pay for medical expenses using online banking at no additional cost.

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



  1. Use free Online Bill Pay to request a check be sent to you.

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

  3. Write an HSA check to yourself.

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

  5. Complete and submit a Withdrawal Authorization Form found under Forms at




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

  • 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.


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