To cut down the time and mind puzzling paperwork http://livelyme.com/makes everything online. It is just a couple of steps away to start your new health saving account. Before you put your first step to enter in health saving you should know about HSA.
What is HSA?
A health savings account (HSA) is a saving account without paying any tax in the United States. You can take tax-advantages by creating a health saving account. HSA funds are used in medical expenses and also in other purposes if you have crossed age 65 without any tax penalty.
Pricing for creating HSA:
You can easily say that the pricing for HSA is $0. You don’t need to pay monthly to account to have basic HSA. It’s a free account creation for all. Investing money of $2.50 monthly in optional. No extra account maintenance fees. It will only charge $5/each for Debit Card after three transactions. An additional Access to Investments at TD Ameritrade is included in the list about $2.50/monthly.
Apart from these charges, everything is free like minimum balance fee, account closing & opening fees, fund transfer fees etc.
In this saving account interest are being provided according to the money you save in your account. Interest rates may vary from $0.25% to $0.60%.
Create an employer account:
For employer health saving account you can joint to your payrolls. You need to invest a minimum $3.50 per month per employee. If you have more than 500 employees then it is suggested to contact livelyme.
Qualification for HSA account:
The main criteria that have to meet to open an account in health saving are;
- You need a high deductible health plan (HDHP).
- You should not have any Medicare plans.
This is an FDIC-insured account. So you don’t have to worry about your money because it is 100% safe and secure with the bank partners.