Thursday, April 21, 2011

Closing an HSA account

HSA accounts are a wonderful tool for member with high deductible plans. They allow members to save tax free money to contribute towards their healthcare costs and can help them to keep track of their deductibles.

It is important to remember that HSAs are bank accounts, though. Just like a bank account, no one other than the account holder can make changes or requests for this account. So should the account holder run out of funds or switch to a PPO plan and decide to close the account to avoid any monthly fees, etc., the member must call and make this request themselves.

Should you need to make changes to your HSA account, you can contact your bank with the following information:

Fifth Third HSA
for support: 888.350.5353

ACS | Mellon Bank
for support: 877.472.4200
after hours support: 800.264.5578

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