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Why choose Associated Bank’s HSA?
Associated Bank delivers comprehensive HSA support through dedicated teams focused on both employer and participant success. Our experienced professionals provide personalized employer support, participant assistance, and employee education to help maximize the value of HSA programs.
Our Employer Services team proudly maintains a 99% customer retention rate across more than 1,400 employer groups, reflecting our commitment to exceptional service and long-term partnerships. Participants benefit from responsive support through our Participant Services team, which achieves a 90% first-call resolution rate.
Associated Bank offers a range of investment opportunities, including an HSA Certificate of Deposit (CD) option. Participants can conveniently manage their accounts, access educational resources, and track their HSA activity through our secure online portal and mobile app. Flexible payment and funding options include the Associated Bank HSA debit card, ATM access, direct deposit, and online bill pay, making it easy to pay for qualified healthcare expenses whenever and wherever needed.
Why choose a Health Savings Account (HSA)?
An HSA is a benefit that allows employees to choose how much of their paycheck they would like to set aside, before taxes are taken out, for healthcare expenses or use as a retirement savings tool.
It’s theirs. Think of an HSA as a personal savings account. Any unspent money in their HSA remains theirs, allowing them to grow their balance over time. When they reach age 65, they can withdraw money without penalty and use it for anything, including non-healthcare expenses.
Flexibility. Save for a rainy day. Invest for future retirement. Or spend funds on qualified expenses, penalty-free.
Easy to use. Participants swipe their Associated Benefits Connection® Debit Mastercard® at the point of purchase. They don’t need to submit receipts for any qualified expense purchases.
Smart savings. The HSA’s unique, triple-tax savings means the money contributed, earnings from investments and withdrawals for eligible expenses are all tax-free, making it a powerful savings and retirement tool.
What does it cover?
There are thousands of eligible items, including:
•Copays, coinsurance, insurance premiums
•Doctor visits and surgeries
•Over-the-counter medications (first aid, allergy, asthma, cold/flu, heartburn, etc.)
•Prescription drugs
•Birthing and Lamaze classes
•Dental and orthodontia
•Vision expenses, such as frames, contacts, prescription sunglasses, etc.
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