Understanding Health Savings Account-eligible plans
Setting up Health Savings Accounts
Once you enroll in a Health Savings Account-eligible plan, then you can open a Health Savings Account through a financial institution, like a bank or credit union.
To find a financial institution that will set up a Health Savings Account:
- Search for “Health Savings Account providers” online.
- Check with your health insurance company to see if they partner with Health Savings Account financial institutions.
- Ask your bank if they offer a Health Savings Account option that meets your needs.
How to choose a Health Savings Account
Consider these items when comparing Health Savings Accounts at financial institutions:
- Some Health Savings Accounts have fees associated with them, like a charge for opening or closing the account and monthly maintenance fees.
- Banking options, services, and features, like debit cards and online banking, may differ by financial institution.
- How you add money into your Health Savings Account may also vary.