Health Savings Accounts (HSA) – How to Set Up an HSA

Setting up a Health Savings Account

You can open a health savings account at any bank or credit union. Most insurance companies offer HSAs through a specific bank they have partnered with, but these banks often charge high service fees. We recommend using Lively because they:

• do not charge a setup or monthly service fee
• provide a free debit card
• 100% online and paperless and only takes 5 min to sign up

Lively Health Savings Accounts

Lively HSA Features include:

• FDIC-Insured, Interest Bearing Accounts: We know how important this money is so it’s sitting in an FDIC-insured account that earns interest. The more you save, the more you earn.
• HSA Investments: Invest from day 1 (no minimum required). Lively has partnered with a TD Ameritrade to provide easy online investing with no pre-selected line-up. Stocks, bonds, ETFs, mutual funds are all available. Grow your health savings for the long term for $2.50/month.

After HSA Enrollment

After you enroll in a Health Savings Account, your bank or administrator will send you the same materials you would receive after opening up a checking or savings account. This normally includes:

• An HSA welcome kit that contains all the information about the account and the associated fees
• A free debit card
• A sweet online account to manage your HSA account