What is Fifth Third HSA?
An HSA is a pre-tax savings account that can be used to pay for a variety of medical costs, including qualified deductibles and copayments. Often, money from HSA funds can be used in conjunction with eligible high-deductible insurance plans. Learn more at 53HSA.com.
Does Fifth Third Bank do HSA accounts?
You've made a good decision by choosing a Fifth Third Bank Health Savings Account (HSA) to manage your healthcare expenses. ... With a Fifth Third HSA, you can take care of your healthcare costs, and even save money for the future on a tax-free basis1 while you're at it.
Can you cash HSA account?
Yes, you can withdraw funds from your HSA at any time. But please keep in mind that if you use your HSA funds for any reason other than to pay for a qualified medical expense, those funds will be taxed as ordinary income, and the IRS will impose a 20% penalty.
What banks open HSA accounts?
Compare All HSA Options Here
| HSA Administrator |
Annual Fees |
Investing Options |
| HSA Bank |
$0 |
Yes |
| Inland Bank |
$0 |
Yes, limited |
| Lively |
$0 |
Yes, through TD Ameritrade |
| Optum Bank |
$2.75 per month |
Yes, with $2,000 minimum that must be kept in HSA cash |
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Jan 12, 2022
Who took over Fifth Third HSA?
What banks offer a health savings account?
- Lively. Lively is an HSA provider that allows you to either invest your funds or earn interest on cash balances. ...
- Fidelity HSA. Fidelity allows you to open an account with no minimum initial deposit and no HSA fees. ...
- Bank of America. ...
- HealthEquity. ...
- The HSA Authority. ...
- Further. ...
- DCU Credit Union. ...
- HealthSavings Administrators.
How does health saving account work?
A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to lower your overall health care costs.