HSA Application

Employers

Welcome to our HSA Benefits Experience

Taking the next step: Maximize the power of your HSA to be better prepared for the future.

Check out our HSA educational webinar series

From maximizing the benefits of your HSA to health care in retirement, choose a webinar topics that works for you.

Already have an HSA

Learn how to maximize the benefits

Already have an HSA

Explore this interactive experience to learn how to do more with your HSA to build your balance for the future.

See how others are getting the most out of their HSAs

Click or tap on the red icons.

Learn more

Should I spend or save my HSA?

Use your HSA as an investment tool

Video: HSA investing

Who will pay for your health care in retirement?

Health care in retirement: What’s your plan?

Better Together video

HSA calculator

See how other people like you
are optimizing their HSAs

Three ways to make the most of your HSA benefit

Click or tap each icon below to explore how you can do more with your HSA.

Spend less to save more

Funds in your HSA at the end of the year roll over year after year — allowing you to build your balance for when you need it, like in retirement. One way to help preserve your balance — and take advantage of tax-free growth potential — is to make a conscious decision to spend less from your HSA each year. If you can afford to, set an amount, such as $50 or $100, that you are willing to spend on health care out of your monthly budget before dipping into your HSA.

Learn more

Should I spend or save my HSA?

Spend less of your HSA to save more

Calculate the impact of saving more or spending lessfrom your HSA

HSA refresher

Brush up on the basics of an HSA to help you get the most out of this important benefit

HSA educational series

HSA Investing

View on-demand seminar

How others use their HSAs

Choose the story you want to learn more about.

Ashley

Watch to see how Ashley, who is just starting her career, plans to use her HSA.

Watch Ashley's video now

Rob

Watch to see how Rob manages health care costs for his family.

Watch Rob's video now

Leigh

Watch to see how Leigh is planning for health care as she nears retirement.

Watch Leigh's video now

HSA calculator

See how much you can save with an HSA

Helpful HSA links

View list of resources

¹ About Triple Tax Advantages: You can receive federal tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you incur after you establish the HSA. If you receive distributions for other reasons, the amount you withdraw will be subject to federal income tax and may be subject to an additional 20% tax. Any interest or earnings on the assets in the account are federal tax free. You may be able to claim a federal tax deduction for contributions you, or someone other than your employer, make to your HSA. State tax consequences for HSAs may vary. Bank of America recommends you contact qualified tax or legal counsel before establishing an HSA.

² “Never Lose it” refers to account portability and annual rollover of accumulated assets; it does not imply you cannot lose money. The investment portion of the HSA account is not FDIC insured, not bank guaranteed and may lose value.

³ Investing involves risk. There is always the potential of losing money when you invest in securities. Please consult with your independent attorney, tax advisor and financial advisor for final recommendations before changing or implementing any financial strategy.

⁴ Medpac, July 2020 Data Book: Health Care Spending and the Medicare Program. Total spending on health care services for noninstitutionalized fee-for-service Medicare beneficiaries.

⁵ Sources: Employee Benefits Research Institute, Issue Brief, no. 549, January 20, 2022. A 65-year-old couple, both with median drug expenses needs $296,000 to have a 90% chance of having enough money to cover health care expenses (excluding long-term care) in retirement. Savings needed for Medigap Premiums, Medicare Part B Premiums, Medicare Part D Premiums and Out-of-Pocket Drug Expenses for Retirement at age 65 in 2021.

Bank of America makes available The HSA for Life® Health Savings Account as a custodian only. The HSA for Life is intended to qualify as a Health Savings Account as set forth in Internal Revenue Code Section 223. However, the account beneficiary that establishes the HSA is solely responsible for ensuring that he/she satisfies the Health Savings Account eligibility requirements set forth in Section 223. If an individual/employee establishes a Health Savings Account and he/she is not otherwise eligible, he/she will be subject to adverse tax consequences. In addition, an employer who makes contributions to an HSA of an ineligible individual may also be subject to adverse tax consequences. We recommend that HSA applicants and/or employers contact qualified tax or legal counsel before establishing a Health Savings Account.

Bank of America does not sponsor or maintain the Flexible Spending Accounts or Health Reimbursement Arrangements that you establish. Those programs are sponsored and maintained solely by the employer. Bank of America is nothing more than a claims administrator who performs ministerial administrative tasks with respect to such arrangements pursuant to agreement with the employer. The employer is solely responsible for ensuring that such arrangements comply with all applicable laws.

The planning tools and information calculators are illustrative only, and accuracy is not guaranteed. They are intended to provide a comparative tool for various consumer health care options and potential costs and savings of those options. Bank of America and its affiliates are not tax or legal advisors. The calculators are not intended to offer any tax, legal or financial advice and do not assure the availability of or your eligibility for any specific product offered by Bank of America or its affiliates. Please consult with qualified professionals to discuss your situation. This site may contain links to third-party content, which may be articles, videos, or calculators, regarding health plans only as a convenience. Some articles, videos and calculators may have been written and produced by third parties not affiliated with Bank of America or any of its affiliates.

Neither Bank of America nor any of its affiliates provide legal, tax, accounting or benefits consulting advice. Please consult with your own attorney or tax advisor to understand the tax and legal consequences of your HSA, Health FSA and/or HRA plan or program offerings to your employees and your particular situation in your capacity as employer and/or plan administrator. This material should be regarded as general information on health care considerations and is not intended to provide specific health care advice.

If you have questions regarding your particular health care situation, please contact your health care, legal or tax advisor.

All trademarks and service marks belong to Bank of America Corporation unless otherwise noted.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Mutual Fund investment offerings for the Bank of America HSA are made available by Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”), a registered broker-dealer, Member SIPC and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”). Investments in mutual funds are held in an omnibus account at MLPF&S in the name of Bank of America, N.A. (“BANA”), for the benefit of all HSA account owners. Recommendations as to HSA investment menu options are provided to BANA by the Chief Investment Office (“CIO”), Global Wealth & Investment Management (“GWIM”), a division of BofA Corp. The CIO, which provides investment strategies, due diligence, portfolio construction guidance and wealth management solutions for GWIM clients, is part of the Investment Solutions Group (ISG) of GWIM.

Investment products:

Are Not FDIC Insured

Are Not Bank Guaranteed

May Lose Value

MLPF&S makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of BofA Corp.

Welcome to our HSA Benefits Experience