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SCHEDULE OF HSA FEES


TRANSPARENCY IN OUR FEE SCHEDULE

HSA Fee ScheduleHow many times have you been told something is free only to find out later, there are costs associated that were kept from you initially?  If you have been shopping for a place to open your HSA you might have heard that HSAs are free, more than once.  HSAs include both a product and a service, and of course there is a cost related to bringing this to the marketplace.

At American Health Value, we publish our fees openly and with transparency.  Since our beginning, now some 20 years later, we have never increased our fees.  To the contrary, we have actually reduced our fees as technology has advanced and the cost-of-doing business has decreased.  Simply put, we passed those savings on to our account holders. 
 

FLAT ANNUAL HSA ADMIN FEE:  $36/YEAR

For cost effectiveness, our fee structure is based on an annual flat fee as opposed to the traditional and often times, excessive transactional banking fees.  When using your HSA as it was intended, those fees can quickly add up, negatively impacting your account balance.  With us, you pay $36 annually and that’s it!

Remember, our annual fee can be paid tax-free from your HSA.  Employer group discounts available on request.
 

HEALTHCARE DISCOUNT CARD CAN EASILY OFFSET ANNUAL FEE

Teamed with your HSA, you receive our FREE Healthcare Discount Card that provides significant discounts on many prodcuts and services that are also qualified HSA expenses, and can be paid with tax-free dollars from your HSA for additional savings.  With this card you can expect to receive significant discounts on prescriptions, dental, vision, hearing, and more.  Using this card, families are saving hundreds of dollars a year! 

Here’s what some of our members are saying:

  • “I just had a prescription filled that retails for $75…  With my insurance, the prescription would have cost me $48.  With your discount card, it dropped all the way down to $23!”
     
  •  “I was able to save over 30% on a $500 bill…  Thanks for this valuable, FREE cost-saving program!”
     
  • “Since I have found this card I have saved over 60% on all my prescriptions.”
     
  • “I was thrilled to find out my "catch-up" dental work ended up being at least 25-30% discounted!”

Your Healthcare Discount Card arrives active and ready to use for everyone in your household. There are no usage limits, expiration dates or precondition limitations. This card is absolutely free to you and your family, and teams perfectly with your HSA!

This card is not insurance. It is a discount medical program. It does not replace COBRA or any other medical insurance program nor is it a Part D prescription drug plan. For more details, see the full disclosure statement.
 

ANNUAL CUSTODIAL BANKING FEES

As an independent HSA administrator, we contract with a custodial bank in order to eliminate or discount transactional fees, typically charged by banks. Our goal is to help you keep more of your own money.  On your behalf, we can interface with the bank and help avoid fees that you may otherwise be charged. If in doubt, always contact us first!

Monthly Custodial Bank Fee:  $2.50, or waived and pay nothing*

To completely avoid and zero out this monthly fee, you are required to maintain an account balance over $1,500 and that has to be in your HSA account the first day of each month.

Additional Discounted Banking Fees:**

  • Reimbursement check
$2.00 for paper check.  Avoid this fee by using EFT.
  • Replacement card***
3 cards free; $5.00 for each card replaced if lost, stolen or damaged.
  • Return deposited item  
$20.00 per item
  • Overdraft            
$20.00 per item
  • Stop payment request  
$20.00 per item
  • Excess contribution refund request
$20.00 per item
  • Account closing
$25.00****
  • Paper statement
$2.50 per monthly statement.  No fee for electronic statements.*****

 

 

*Your monthly admin fees may be paid by your employer or health plan. If you change health plans or employers, your account may be directly charged up to $3.95 per month. Monthly admin fee waived if HSA cash balance is over $1,500.00. Admin fees are assessed based on the HSA cash balance on the first day of the month.

**If you choose to leave American Health Value, you may be subject to additional fees.

***The American Health Value Visa® HSA Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. The Bancorp Bank; Member FDIC.

****Charged only on funded accounts. See the Distributions section in the HealthEquity Custodial Agreement for more information.

*****You are automatically set up to receive paper statements and will be charged $2.50 per monthly statement. To avoid this fee, we recommend that you switch your account preference settings to electronic statements. You can do this by logging into your Member Portal and updating your profile or by calling an HSA Specialist at American Health Value.