Over the last decade businesses have made the decision to reduce their cost of rising healthcare benefits by offering High Deductible Health Plans (HDHPs). If your business is considering offering High Deductible plans or has already implemented them, an Inland Bank Health Savings Account (HSA) will meet the needs of your employees and give them greater control over their own healthcare spending. Inland Bank has experience working with employer groups across the United States and our Health Savings Account Employer program can help you succeed in rolling out new plans or serve as support for ongoing enrollments.
|Account Opening Options||We offer employees multiple enrollment options including: online, on-site and via One Page Fillable paper. Enrollment via Portals and Private exchanges available upon request.|
|Education||We provide information about Health Savings Accounts so that your employees understand how the account works and how to manage their money. Ask an Inland HSA specialist for details on how we can support your group benefits enrollment.|
Your employees can choose between the following two Health Savings Account options:
|Feature||No Fee Health Savings Account1||Health Savings Advantage|
|Minimum Balance to Open||$1002||$1002|
|Monthly Service Charge||$0||$2.95|
|Minimum Balance To Avoid Service Charge||$0||$0|
|Balance Threshold for Investments 3||NA||
$2,500.00 (funds in excess of $2,500.00 can be invested
|Interest Compounding frequency||Monthly||Monthly|
|Minimum balance to earn interest||$0.01||$0.01|
|Monthly Service Charge for Optimal Check Imaging||$0||$0|
|Qualified Medical Expenses||
Expenses incurred by the account beneficiary and his or her spouse and dependents; COBRA premiums; Health insurance premiums while receiving unemployment benefits; Qualified long-term care premiums; and any health insurance premiums paid, other than for a Medicare supplemental policy, by individuals age 65 or older. This list below provided by irs.gov is not all-inclusive. Qualified medical expenses include:
Become An Inland HSA Group
Complete our Employer Set Up Form to get started.
Visit our Help Center for Forms, Resources, Tools and FAQs.
Ready to become an Inland HSA Group? Complete our Employer Setup Form or schedule an appointment with one of our Health Savings Specialists to learn more.
1 - No fees associated with the set up or monthly maintenance of the HSA account. Please see personal fee schedule for any ancillary fees that may be associated with your account.
2 - Inland HSA will work with Employer Groups who are using payroll contributions for employee accounts.
3. Funds in excess of $2,500.00 can be transferred to a select group of mutual funds. Participation in the Health Savings Account (HSA) investment options is voluntary and requires a separate agreement with myHSAinvestments. Neither Inland Bank and Trust nor its subsidiaries (collectively "Inland Bank") are parties to that agreement nor are they affiliated with myHSAinvestment. Any fees charged by myHSAinvestments are in addition to fees charged by Inland Bank. Investors should carefully read the Fund prospectus, which includes information on the Fund's investment objectives, risk, as well as charges and expenses along with other information, for each Fund before investing or sending money. Once you transfer funds to your HSA ADVANTAGE investment account, they become subject to your agreement with myHSAinvestments. Funds in the investment portion of your HSA ADVANTAGE account are not FDIC insured, May Lose Value and are Not Bank Guaranteed. Inland Bank is not a registered investment advisor nor is Inland Bank acting in the capacity of a registered investment advisor with respect to the offering of HSA investment options. Under no circumstances is Inland Bank offering any of the HSA investment options and makes no representations with respect to the investment options offered. Inland Bank disclaims any and all liability, contingent or otherwise, for the performance of the HSA investment options. Please see your financial advisor for personal investment advice.