Health Savings Account Rules

 

 



HSA Administrator

Freedom H
Freedom HSA

Interest
(APR)

 

$0 - $999.99: 0.50%
$1K-$4,999.99: 0.75%
$5K-$14,999.99: 1.00%
$15K and over: 2.00%
Interest rates are subject to change.
APY as of 11-18-2009.
FDIC Insured 
(Funds in Interest-bearing Account)
Yes for HSA deposit account.
Money market and brokerage accounts are NOT FDIC insured.
Securities Investment Options
(Brokerage Account)
Options: UMB Financial Services, Inc.
At least $1,000 balance to remain in base HSA and initial investment amount varies by fund but can be as low as $1,000.
Threshold: Above
Fees
Set Up Fee: $0
Monthly Maintenance Fee: $2.50 Included With Association Membership
Closing Fee: $15
Brokerage Account Fee: No fees on money market account
$14.95 one time brokerage setup fee
$1.50/month from HSA deposit account for having UMB Financials Services account.
$20 transaction fee for each purchase, redemption or other transaction in any of the funds on the mutual fund, with the exception of recurring fund purchases of $100 or more. In the case of recurring fund purchases of $100 or more, you will be charged a $2 transaction fee on each such purchase after the initial purchase.
Investment Transaction: Above
Checks: No
Debit Cards: HSA VISA Debit Card
Other Fees: $0 debit card replacement fee
Auto Reimbursement Free secure electronic transactions
Balance Requirements None
Statements/Reporting Online access to account and monthly paper statements, Annual Tax Forms

This information is for illustration purposes only and was valid as of 2/18/2010.  Please contact the Freedom HSA plan administrator directly for current details as they do change frequently.