Bank of America Health Savings Account is designed to allow you to live safely without any worries. By visiting www.bankofamerica.com/benefitslogin you can register an individual HSA account or enroll in a group HSA through your employer and health plan to start managing your saving account for health. So if you have a Health Savings Account in Bank of America, this post is just for you.
Health Savings Account (HSA) is a tax-advantaged savings account, which an individual or an employee can save money for current and future expenses on health and medical care provided that the medical expenses are qualified according to rules of HSA.
Benefits Of having Bank of America Health Savings Account
- Reduce health insurance premiums.
- Makes great tax savings.
- Balance rolls over year by year.
- The account and the unused funds will go with you whenever you find a new job, change to a new health plan or retire.
- Tax-free growth allows that funds in the HSA can grow tax-free.
How to Enroll in a Group Health Savings Account in Bank of America
As an employee, you only need to confirm whether your employer or Health Plan is providing a group program through Bank of America. If it does, get the Group ID from your employer or Health Plan to complete your Group HSA enrollment by following the steps below:
- Go to www.bankofamerica.com/benefitslogin.
- Press the “Enroll in Group HSA” button in the “New Account” – “Enroll in a Group HSA” section.
- Fill in the application form with your Group ID, SSN, Name, Date of Birth, ZIP/Postal Code and so on. Then press “Continue” to proceed.
- Provide other personal information as required and then create your User ID.
- Carefully read terms and conditions.
- Verify your submitted information to finish creating your account.
How To Open an Individual Bank of America Health Savings Account
As an individual, the process involves here is quite different from a group HSA enrollment. Just follow the steps below to get started.
- Press the “Continue” button in the “Open an individual HSA” section to begin your application.
- Once the application opens, fill out the form with your details including SSN, Name, Date of Birth, ZIP/Postal Code, etc. Then click “Continue” to proceed.
- Type in other information as required.
- Next, create your User ID and read the terms and conditions and agree to them.
- Authenticate your ID and verify your submitted information to finish the whole process.
A Health Savings Account (HSA) helps you handle your spending for health care and pay for the qualified expenses like seeing a doctor, prescriptions, or even some over-the-counter drugs. So, enroll now to enjoy all the benefits attached to your account.
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Additionally, you can use the HSA Balance and Tax Savings Calculator to check your possible future balance and tax savings.
If you have any further question regarding Bank of America Health Savings Account kindly call (800) 718-6710 for assistance, or use the comment section below.