Contributions to your employees’ health savings accounts encourage your employees to enroll in your HSA program. We make it easy for you to contribute by providing a number of contribution options to suit your needs. You may want to consider the frequency and the types of contributions you will be administering, such as employee pre-tax, employee after-tax or employer. Prior to selecting a contribution option, you must be signed up as a business partner with HSA Bank.
Note: The IRS provides annual
HSA contribution limits
. If you decide to contribute to your employees’ HSAs, please communicate the amount to your employees.
Detailed information, including step-by-step instructions regarding each of our contribution methods, can be found in the HSA Bank Employer Manual.
Group Online Contribution System (GOC)
Set-up time: five business days
Contributions available: On selected business day. Can be as soon as next business day if scheduled before 2 p.m., CT, or two business days if after 2 p.m., CT.
HSA Bank's GOC system features a fresh design, faster load times and easier-to-use navigation - it's a convenient way to contribute to your employees’ HSAs! To access GOC and make contributions, log into our online Employer Administration Area. We will then pull the contribution amount from your external bank account and distribute it into your employees’ HSAs. Benefits of GOC include:
One-time or recurring contributions. You can even contribute by uploading a Microsoft Excel (CSV) file rather than manually entering each contribution amount. Various contribution-frequency options (weekly, bi-weekly, monthly, etc.). View pending and prior contributions. Download current- or prior-year contribution reports, which include summaries of all your contributions from any source. Schedule contributions for future dated accounts. Receive email confirmations.
To sign up for GOC, complete the Group Online Contribution Form and ACH Agreement and submit it, along with a voided check from your external business checking account, to HSA Bank.
Curious how GOC works? View our online demo.
Electronic Contribution File with Wire/ACH
Set-up time: 10 days
Contributions available: same business day if received before 11 a.m., CT, next business day thereafter
This option enables you to wire or ACH funds from your account to a clearing account with HSA Bank. We will distribute the funds to your employees’ accounts based on the information provided in an electronic Transaction File or HSA Bank-approved Excel Contribution Format. Each ACH or wire must be accompanied by an electronic Transaction File.
To begin using this option you must call Business Relations.
To learn more, read the Electronic File Upload with Wire/ACH Transfer section of the HSA Bank Employer Manual.
Set-up time: based on payroll vendor
Contributions available: next business day
You can initiate ACH contributions to your employees’ HSAs through your current payroll provider. To get started, you must first contact your payroll provider and follow our ACH Instructions, which outline how to properly code each contribution entry. We will provide you with the account numbers and our routing number to complete the set up of this option.
To learn more, read the Direct ACH section of the HSA Bank Employer Manual.
Set-up time: none
Contributions available: within 3 business days of HSA Bank receiving the check
You may also contribute by mailing a paper check to HSA Bank. Checks should be accompanied by an Employer Contribution Form, which should list all the employees with an HSA and the amounts being contributed to each. Contributions made by check may take longer to post to your employee accounts than the other options. No set-up is required for this contribution option.