An HSA from Bank of America helps put you in control of your health care costs.
An HSA from Bank of America can help you and your employees save money.
For companies with more than 3,500 employees, we offer a broad suite of health accounts.
A full suite of health accounts to help your clients manage health care costs now and in the future.
We’re committed to providing individuals and businesses the financial products and services they need to help pursue their goals at every stage of their financial lives.
Compatible with virtually any qualified high-deductible health plans so you don’t have to change your HSA provider if you change your insurance provider.
An employer-sponsored HSA is part of a competitive benefits package that can help you attract and retain valued employees.
HSA setup wizard and concierge service make it easy to set up your HSA program and enroll employees.
Secure online portal for easy account administration and tools for engaging your employees.
An HSA offers unique tax advantages that help employees keep more of their hard-earned money by providing the potential for:
1 About Triple Tax Advantages: Participants can receive tax-free distributions from their HSA to pay or be reimbursed for qualified medical expenses they incur after they establish the HSA. If they receive distributions for other reasons, the amount withdrawn will be subject to income tax and may be subject to an additional 20% tax. Any interest or earnings on the assets in the account are tax free. Participants may be able to claim a tax deduction for contributions made to the HSA. Bank of America recommends that applicants and employers contact qualified tax or legal counsel before establishing a HSA.
2 In order to offer payroll deduction, an employer’s cafeteria plan must comply with Internal Revenue Code Section 125.
3 The Internal Revenue Service publishes a list of qualified expenses in Publication 502, Medical and Dental Expenses available at www.irs.gov.
4 This HSA debit card program is issued by Bank of America, N.A. Visa is a registered trademark of Visa International Service Association, and is used by the issuer pursuant to license from Visa U.S.A. Inc.
5 Data connection required. Wireless carrier fees may apply. Mobile app not available on all devices.
6 Mutual fund offerings are provided by Devenir, LLC.