Monday, November 24, 2014
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Investment Pick on Clark Howard An article on Clark Howard's site discusses how to invest your Health Savings Account. Health Savings Administrators is a top pick with our 22 Vanguard Funds.
22 Vanguard Funds
At Health Savings Administrators you have access to 22 Vanguard Funds - and unlike some of the competition, there is no required checking account.
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We make it easy to reach a live person when you call. We pride ourselves on superior customer service and we staff our call centers with experienced, friendly and educated people.....just like you!
Ranked Best HSA by Kiplingers You can build a portfolio with 22 low-cost Vanguard mutual funds - and you can invest immediately, instead of waiting to accumulate a large balance.

Employer Information

Employer HSA Forms

In order for you to view and print these documents, you must have Adobe Acrobat Reader (click here to download your free copy).

Online Employer Guide

HSA Contribution Overview

Contributions to your employees’ health savings accounts encourage your employees to enroll in your HSA program. We make it easy for you to contribute by providing a number of contribution options to suit your needs. You may want to consider the frequency and the types of contributions you will be administering, such as employee pre-tax, employee after-tax or employer. Prior to selecting a contribution option, you must be signed up as a business partner with HSA Bank.

Group Online Contribution System (GOC)

Set-up time: five business days
Contributions available: On selected business day. Can be as soon as next business day if scheduled before 2 p.m., CT, or two business days if after 2 p.m., CT. 

 

HSA Bank's GOC system features a fresh design, faster load times and easier-to-use navigation - it's a convenient way to contribute to your employees’ HSAs! To access GOC and make contributions, log into our online Employer Administration Area. We will then pull the contribution amount from your external bank account and distribute it into your employees’ HSAs. Benefits of GOC include:

One-time or recurring contributions. You can even contribute by uploading a Microsoft Excel (CSV) file rather than manually entering each contribution amount. 

  • Various contribution-frequency options (weekly, bi-weekly, monthly, etc.).
  • View pending and prior contributions. 
  • Download current- or prior-year contribution reports, which include summaries of all your contributions from any source.
  • Schedule contributions for future dated accounts. 
  • Receive email confirmations.


     

    To sign up for GOC, complete the Group Online Contribution Form and ACH Agreement and submit it, along with a voided check from your external business checking account, to HSA Bank

     

  • Electronic Contribution File with Wire/ACH

    Set-up time: 10 days
    Contributions available: same business day if received before 11 a.m., CT, next business day thereafter

    This option enables you to wire or ACH funds from your account to a clearing account with HSA Bank. We will distribute the funds to your employees’ accounts based on the information provided in an electronic Transaction File or HSA Bank-approved Excel Contribution Format. Each ACH or wire must be accompanied by an electronic Transaction File.

     To begin using this option you must call Business Relations.

     To learn more, read the Electronic File Upload with Wire/ACH Transfer section of the HSA Bank Employer Manual.

     

     

     

    Detailed information, including step-by-step instructions regarding each of our contribution methods, can be found in the HSA Bank Employer Manual.

    Step One – Enroll Your Company

    • The first step is to enroll your company. Call Health Savings Administrators at 888-354-0697 or Download an Employer Packet.
    • If you want to have Health Savings Administrators debit your business account you will also need to download an ACH Authorization Form.
    • Simply complete both forms and send them via fax to 804-726-1570, Attn: HSA Contribution Manager or via mail to Health Savings Administrators, HSA Contribution Manager, 10800 Midlothian Turnpike, Suite 240, Richmond, VA 23235.

    If you have questions or wish to sign up over the phone, contact us at 888-354-0697. You will be given an employer ID and password and can access the HSA Contribution Manager through the Employer Login. You will then be able to access your employees and manage their HSA contributions.

    How to Login to the Contribution Manager

    • Enter your Employee Identification Number (EIN).
    • Enter your PIN – This is supplied via email after your account is set up. You can change it at any time by visiting the Employer Login Page.
    • Once you have entered your Employer Identification Number (EIN) and your PIN, click on “Login” to complete the login.

    View Your List of Employees or Submit a Contribution Form

    When you log in you will have a choice of viewing a list of all of your current employees or proceeding directly to preparing an HSA contribution.

    The View Employee List page provides you with a list of all current employees, their most recent contributions, and the most recent payroll processed. On this page employees can be marked for removal from the current employee list.

    This page also shows the current employees with HSAs for this employer. These are individuals that we have identified as being employed by that company and who are actively contributing to their HSA.

    To change an employee contribution, use the Submit a Contribution Form process, then you will have an opportunity to make individual changes later when you preview the Contribution Form.

    Please contact Customer Service at 804-378-7756 or toll-free at 888-354-0697 if you need assistance.

    Security

    In an effort to provide the highest degree of confidentiality and security for your financial information, Health Savings Administrators recommends the use of 128-bit encryption browsers.

    Encryption is the process for scrambling your contribution information as it passes between our website and your computer. The encryption process is built into most Internet browsers. The larger the number of bits for encryption (e.g., 40 or 128) the more difficult (exponentially) it is for an unauthorized person to unscramble the transmission. The highest level of encryption commercially available is 128-bit and is a more secure way to guard your contribution information.