Health Savings Accounts

Health Savings Accounts (HSA'S)

Health Savings Accounts (HSA’s) have become the icon for Consumer Driven Health Care. The inevitable increased involvement by consumers in their own healthcare will mean more freedom to make good choices but also will involve more risk. Some see this as a necessary step to lowering medical costs.

As a result, we offer HSA’s to groups and individuals for National Advisors Trust Company, FSB. We are the Plan Service Provider (PSP) for all of our accounts. We serve as the account holder’s advocate and the custodian’s customer service representative. With us you get more than just a bank account and a checkbook. You get a personal HSA assistant who can help you through all stages of setting up and managing your HSA. In other words, you form a relationship that can last a lifetime.

We offer personal enrollment services for help setting up your HSA. Further, we work with insurance agents to design the right plan for the group or help them understand how an HSA can work with a Cafeteria Plan, an HRA, or a Limited-Purpose FSA. We reconcile all contributions received to make sure they do not exceed the legal maximum. Included is online access where you can look at account balances, make contributions, request disbursements, select investment options and more. We also offer a Claims VaultSM where you can store your claims online for later use. In addition, we offer a debit card for quick use of the money in your account.

HSA funds must be held by an authorized custodian. We use National Advisors Trust Company, FSB, a federally chartered trust company, because their mission is very similar to ours: To provide a comprehensive selection of trust and custodial services, with its hallmarks being Service, Security, and Trust. See www.nationaladvisorstrust.com for more information.

Each account has three components: a cash account for the first $100, a savings account for everything over $100, and an investment option. Your HSA savings funds are maintained in a Goldman Sachs Money Market Fund. The investment program offers qualified account holders a diverse range of investment alternatives to choose from, along with four professionally managed model portfolios that support varied investment objectives and risk tolerance. See www.myhsatoday.com/nat/investments.asp for more information.

We are unique in that we also offer a claims review and archive service. If the account holder wants us to review their medical receipts to make sure they are appropriate medical expenses in accordance with IRS guidelines, we will do that for an additional fee and we will store those receipts for 7 years in case the account holder ever gets audited. All account holders requesting this service will submit all disbursement requests to us directly.

Our fees for HSA’s are as different depending on who is paying the fee. Businesses setting up these accounts for their employees can choose to pay the fee themselves or have the employees pay. Of course individuals do not have to be a business to set up a HSA account. They can be anyone who meets all the criteria set out by the federal government for these accounts.

Description of Fees per Account	Business Paying	Individual Paying

Account Set-up Fee/person one time	$10 upfront	$10 upfront due w/ app
Administration Fee	$24/yr upfront	$2/mo billed to acct
Debit card fee (optional)	$30/yr upfront	$2.50/mo billed to acct
Investment fee (optional)	$24/yr upfront	$2/mo billed to acct
*Total if all above options chosen*
*First Year*	*$88/yr*	*$10 + 6.50/mo*
*Every year thereafter*	*$78/yr*	*$6.50/mo billed to acct*

*Additional Service: Claims Review & Storage – CLAIMS VAULT*	*$72/yr*	*$6/mo billed to acct*
*Return Check/EFT Fee/per occurrence*	*$25*	*$25 billed to home*

Please complete the form below -
Fax it to us at (804)379-5898 -
To get started today!

HSA Application Form