Account Options & Details
The investment account offers first dollar investment options in your choice of low cost, high quality mutual funds. That means that there’s no minimum balance required to invest. Remember that investment products are not insured by FDIC or any federal government agency. Investments may lose value, and they are not guaranteed by the bank or any bank affiliate.
The cash account is an interest-bearing savings account with optional debit card. The interest you earn in the cash account increases as your account balance increases. The cash account is FDIC insured, and there are no monthly low balance fees associated with the account. Please note that the debit card cannot access the investment account; however, you can move funds between the investment account and cash account online.
Yes, click on LOGIN, then enter your username and password. Remember, your username, password and answers to secret questions are case sensitive. Your username can be up to 18 characters. Your password must be at least 8, but no more than 16 characters. For increased security, you MUST use letters, numbers and one of the following special characters in your password: ! # $ % & ? @
To contribute online, log into your account, then click the “Schedule Contribution” icon. Next, fill in your contribution details and banking information, then click “Submit.” To save your banking information for next time, go to “My Profile” and click “Bank Information.” Then, click “Add a bank account,” enter your information, then click “Save.”
To contribute via pre-tax payroll deduction, contact your employer. If your employer has a Section 125 Cafeteria Plan, they should be able to deduct your contributions from your paycheck on a pre-tax basis, which decreases your taxable income.
Your first contribution is subject to a 5-7 business day hold and may not be available for immediate withdrawal.
Complete our Transfer Request Form. After completing and returning the form, please allow 4–6 weeks for your transfer request to be completed.
When we receive your transferred funds, the money will be allocated according to your investment elections. If you have not set up your elections, the money will remain in your cash account until you decide to transfer funds to your investments. To set up or change your investment elections, see “How Do I Make Investment Changes?”
To withdraw funds online, log into your account and click “Withdrawal” on the top navigation (or click the “Withdraw Funds” icon). Enter the amount to withdraw and how you would like to receive the funds, then check “I agree to the terms and conditions” and click “Submit.”
To withdraw funds via your debit card, simply visit any ATM. For your security, there’s a $500 daily limit on ATM withdrawals. Funds are deducted from your cash account. Please note that your debit card cannot access your investment account; however, you can move funds between your investment account and cash account online.
If you have a cash account, an electronic statement will be posted to your online account each month. Simply log into your account, click “Statements & Documents” on the top navigation, then click “Statements” under “Document Type.”
If you have an investment account, statements will be sent quarterly according your preferences (paper or electronic).
If you have both accounts, you will receive both electronic monthly statements and quarterly statements according your preferences (paper or electronic).
Form 1099-SA is mailed at the end of January.
Form 5498-SA is mailed in early June.
If you live in a common law or in a community property or marital property state and wish to designate someone other than your spouse as your primary beneficiary, see “Am I required to list my spouse as the beneficiary if I am married?” for more information.
The primary beneficiary will receive 100% of your account balance upon your death.
The contingent beneficiary will receive the account balance if the primary beneficiary predeceases you.
You can name more than one person as your primary beneficiary and more than one person as your contingent beneficiary. If you name more than one person, indicate the specific whole-number percentage of your balance to be paid to each beneficiary.
Make tax-free distributions from the HSA for qualified medical expenses
Maintain tax-free growth of the funds in the account
Contribute to the account if he or she has an HSA-qualified high deductible health plan (HDHP)
If you fail to designate a beneficiary, or are married and name someone other than your spouse as beneficiary, the account ceases to be an HSA upon your death. As a result, the fair market value of the account becomes taxable in the year of your death for non-spousal beneficiaries. NOTES:
Your spouse will not lose the ability to make tax-free withdrawals for qualified medical expenses if he or she does not qualify to contribute to the HSA.
Any qualified medical expenses you incur before your death may be reimbursed from the account before determining the fair market value of the account.
Please consult your tax advisor if you have questions about the potential tax consequences associated with your HSA beneficiary designation.
Debit Card Questions
If you’d like to change how your contributions are allocated (change your elections) online, log into your account and click “Investments” on the navigation bar, then click the “Change Elections” icon in the “Investment Actions” box. From there, click “Add Elections” and add your desired funds, then enter what percent of future contributions should be allocated to each fund (the total contribution percentage must be 100%). Requests received before 2 p.m. ET will be processed the same business day. Requests received after 2 p.m. ET, on a weekend or holiday, or involving the cash account, will be processed using the next market day’s closing price.
If you’d like to transfer existing money from one mutual fund to other fund(s), log into your account and click the “Manage Investments” icon. Next, choose whether you’d like to transfer funds by percent, dollar, or shares. Finally, enter the amount of money you’d like to transfer out of a particular fund(s) in the “Transfer Out” box beside that fund(s) and enter the amount of money you want to transfer to a particular fund(s) in the “Transfer To” box beside that fund(s).
Contributions can be made through pre-tax payroll withholding, or they can be made after-tax and deducted on your tax return, even if you don’t itemize
Account earnings grow tax free
Withdrawals for eligible medical expenses are tax free for you, your spouse or your tax dependents
Federal regulations require you to meet these eligibility requirements in order to open and contribute to an HSA. You must be:
Covered under a qualified high deductible health plan (HDHP) on the first day of the month
You must not be:
- Covered by any other health plan, including your spouse’s health insurance
- Covered by your own or spouse’s medical flexible spending account (FSA)
- Enrolled in any part of Medicare or Tricare
- Receiving Veteran’s health benefits now or in the past 90 days for a non-service connected disability
- Claimed as a dependent on another person’s tax return
- Your family members
- Your employer
- Any other person including a “non-individual”
If your spouse is your beneficiary, the HSA becomes his/hers and can still be used tax free for eligible medical expenses.
If your spouse is not your beneficiary, the HSA becomes part of your estate, and fair market value is calculated on your date of death.