What is a HSA?
Health Savings Account (HSA) is a savings account which work with your Health Insurance plan. Citizens that pay their taxes and has a high-deductible health plan are eligible into opening a HSA account. The funds in your HSA can be used to pay your medical bills, however if you used these funds to pay something that is not related to medical payment it will be subject to federal income tax.
Why A Lively HSA Account Is Different Than Other HSAs?
There several options found at livelyme.com when opening your HSA and the following are facts about Lively sets it apart from other company that offers HSAs
- Lively offers this service for FREE.
- No matter how much your balance is you will be earning interest with Lively.
- You will be opening an account with $2.50 per month, the only thing you will be paying for it the access of your saving through Ameritrade.
- There is no minimum cash balance requirement.
- The fee is only $2.50 for both individuals and employees
- You can set up recurring investment with no fees.
- Lively offers you easy methods to access your savings
- You will be provided with a debit card that will give you access to your funds anytime.
- In case that you do not have your debit card and paid with cash, you will be subjected to reimbursement.
- Lively is FDIC approved, which means your money is secured.
- Lively is a 100% paperless and will not wasting your time with filling up long forms.
- You can sign up in 5 minutes, it is that easy!
Lively offers both individual and employee HSA, here are their individual benefits:
- For individuals
- It is free for both individual and family
- It is FDIC approved
- It is interest bearing
- You can invest for $2.50/month
- For employees
- You manage all your contributions
- It in sync with your payroll
- It offers employees options for investments