Flexible funding opportunities (payroll deduction as well as discretionary deposits)
Online access to transaction history and balance information
Chase HSAs offer qualifying employees an optional investment account through
J.P. Morgan Institutional Investments Inc.*
Each accountholder will be able to create a balanced portfolio that reflects his/her specific needs and risk preferences.
Most programs carry no fees for online mutual fund trades, and funds can be transferred quickly and easily to the employee’s HSA cash account when needed.**
* Health Savings Accounts are administered by JPMorgan Chase Bank, N.A. Member FDIC. Mutual funds are introduced by, and HSA Investment Accounts are offered by J.P. Morgan Institutional Investments Inc., member FINRA® and SIPC®, and an affiliate of JPMorgan Chase Bank, N.A. This service is available only to individuals (including U.S. citizens and U.S. resident aliens) residing in the U.S.
** Certain mutual funds may have trading restrictions and impose redemption fees for frequent trading. Please refer to fund prospectus for details relating to trading restrictions and/or redemption fees.
Line of credit option
Employees have the option to apply for a Healthcare Line of Credit that can provide a safety net for unanticipated healthcare expenses prior to funds being deposited into the account.
If their healthcare costs exceed their available HSA balances, the line of credit activates automatically to cover expenses up to their available credit limit.
There are no application or annual fees associated with the Healthcare Line of Credit.***
*** Chase Bank USA, N.A. fees and conditions apply. Employees should read the terms and conditions carefully when applying.
WHAT ARE THE COSTS?
You have the option of paying monthly administrative fees or passing them to your Employees (to be deducted from their HSA). There is flat service charge of $3.50 per month per open employee account. The only other charges you might incur would involve optional HSA marketing materials you may elect to order. If an accountholder leaves your company, the individual retains ownership of the account but you are no longer responsible for paying the service charges.
If the Employer pays the monthly administrative fee, there are no monthly HSA fees for employees, and no transaction fees for using the debit card at an ATM or point of sale. However, there may be typical bank fees for services such as check orders, or when an employee has insufficient funds in the account, all of which are identified in the fee schedule for their HSA.
WHY J.P. MORGAN?
When you work with J.P. Morgan, you partner with one of the world’s strongest and most respected financial institutions with a proven track record in delivering HSA-related services of the highest quality and value.
We provide everything you need to get your program up and running quickly.
Our comprehensive menu of customizable marketing communications will help you inform, educate and enroll employees.
We offer a very simple and clear employee enrollment process, either online or paper.
Comprehensive reporting allows you to manage your HSA program and provide detailed data on balance levels, service charges and other topics.
J.P. Morgan was one of the first banks in the nation to offer Health Savings Accounts, so you gain the benefit of our years of experience assisting employers of all sizes, in all industries.
We are a leading innovator in this fast-evolving industry, so you’ll be among the first to benefit from new ideas and better choices.
J.P. Morgan and Chase are names that your employees know and trust, which reinforces that opening a Health Savings Account is a smart decision.
All J.P. Morgan HSA Programs feature:
Secure, online access for program administration
Flexible options for funding employee HSAs
A comprehensive menu of administrative reports on your program
Access to the HSA Adoption Kit for Employee Education
Optional line of credit feature available on HSAs
Wide range of employee investment options
An HSA program from J.P. Morgan can be paired with High Deductible Health Plans from any insurance company.
If you decide to change insurers at any point, you won’t need to change HSAs - which will give you the freedom to make cost-effective decisions in the future with minimal disruption to employees.