About The HSA Authority
As The HSA Authority, a product of Old National Bank, we were one of the first to bring Health Savings Accounts to the market in 2004 after they were established as part of the Medicare Prescription Drug, Improvement, and Modernization Act. Our introduction of HSAs received nationwide attention on the HSA industry’s website, HSA Insider, and on Yahoo! FINANCE.
In 2005, we were chosen as HSA Trustee for the State of Indiana employees. Since then, we’ve expanded our role taking a share of the national market. Currently, we serve clients in 50 states, over 1,100 employer groups and over 95,000 account holders!
We stand apart as one of the most experienced HSA administrators, offering turnkey HSA solutions to employer groups and individuals. Our high quality services play an important role in boosting employee participation and individual customer satisfaction.
We recognize the need for an education-based, service focused program and will partner with you to create the customized, innovative HSA solutions you need for success.
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1-10 employees
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Banking
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119 East Berry St. Suite 101, Ft. Wayne, IN 46802, US
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1834
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Hsa, Hdhp, Health Savings Account, Hsa Administration, Hsa Education
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Frequently Asked Questions about The HSA Authority
A Health Savings Account (HSA) is a tax-advantaged savings account designed to help individuals save for medical expenses. To qualify for an HSA, you must be enrolled in a High Deductible Health Plan (HDHP). Contributions to the HSA are tax-deductible, and the funds can be used tax-free for qualified medical expenses. Additionally, any unused funds roll over year after year, allowing you to build savings for future healthcare costs.
The HSA Authority offers a comprehensive suite of services including HSA administration, account management, and educational resources. We assist individuals and employers in setting up and managing HSAs, ensuring compliance with IRS regulations, and providing tools for effective account management. Our educational resources help clients understand the benefits of HSAs and how to maximize their use.
HSAs are beneficial for anyone enrolled in a High Deductible Health Plan (HDHP), including individuals, families, and employers. They are particularly advantageous for those looking to save on taxes while preparing for future medical expenses. HSAs can also be a strategic tool for retirement planning, as funds can be used for qualified medical expenses tax-free even after age 65.
For 2023, the contribution limits for HSAs are $3,850 for individuals and $7,750 for family coverage. If you are 55 or older, you can make an additional catch-up contribution of $1,000. These limits are subject to change annually, so it's important to stay updated with IRS guidelines.
The HSA Authority provides employers with tailored solutions to implement and manage HSA programs for their employees. We offer administrative support, compliance assistance, and educational resources to help employers communicate the benefits of HSAs to their workforce. Our goal is to simplify the process for employers while enhancing the overall employee benefits package.
The HSA Authority offers a variety of educational resources, including webinars, articles, and FAQs to help individuals and employers understand HSAs and their benefits. We provide guidance on how to effectively use HSAs, tips for maximizing contributions, and information on qualified medical expenses. Our resources are designed to empower clients with the knowledge they need to make informed decisions about their healthcare savings.
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