Overview of Selected HSA Banking Alternatives

Vectra DigitalBlog, Private Self-Funded Health Plan

We’re frequently asked which is “the best” HSA bank for our clients’ employees, but it’s not an easy answer. Lately, employers are moving away from using traditional banks and toward online or investment banks to take advantage of longer term investment options and online fund access. Increasingly, employers are even pairing their HSA with their retirement savings vendor to help employees balance their future savings (see our earlier article Saving for the Future: HSAs and Retirement). We include a mix of both here in an overview to show how “the best” HSA bank for your employees depends if they value the lowest fees, best investment options, online access, etc.

Compliance Alert: Overview of Selected HSA Banking Alternatives