Bank
What you need to know
Who can administer an HSA?
A health savings account (HSA) is a tax-exempt trust or custodial account that you set up with a qualified HSA trustee to pay or reimburse certain medical expenses you incur.
Administration of the HSA is usually delivered by a qualified HSA custodian, which in most cases is a banking institution. The bank will typically charge an account set-up charge and a per-participant per-month fee. Any interest earned on positive balances is retained by the account owner, and the funds can be invested as well.
The HSA is not a COBRA-eligible benefit, but employees take any positive balances with them when they terminate employment.
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Coaches' Takeaway
Administration of the HSA is usually delivered by a qualified HSA custodian, which in most cases is a banking institution. The employer will establish that custodian with the assistance of their Benefits Advisor.
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Tools & Resources
CDHPCoach’s Storage Facility, where the Coach has organized and compiled a vast amount of tools and resources for you to access.
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Library
Housed here are key components and information within the book, Bend the Healthcare Trend which was the impetus behind the CDHPCoach.
Bank
What you need to know