Offer HSAs as a benefit option to your valued employees.

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Want to do something about rising healthcare costs? Your employees are eager for new options.

Choice Financial offers a better way. When combined with a High Deductible Health Plan (HDHP), a Choice HSA is an attractive option for your employees and your business. We have HSA account holders in all 50 states, and we’ve offered them for nearly 10 years.

Rest easy: you can take control of this important employee benefit. (They’ll even look forward to the enrollment process.)

How HSAs Work


Your employees establish an HSA to pay for eligible medical expenses not covered by their High Deductible Health Plan (HDHP):

  • Contributions can be made by the employers, employee, or any third party on behalf of the account holder.

  • Contribution maximums are set by the IRS each year and are not limited by your health plan’s deductible amount.

  • Catch-up contributions are available to an individual and their spouse who have reached the age of 55 and are not enrolled in Medicare.

If the employee is eligible, an HSA can provide significant tax benefits. We often refer to them as “triple tax savings”:

  • Tax-Deductible Contributions: Contribute up to the IRS maximum, and enjoy tax savings in an account that exclusively covers eligible medical expenses (PDF). HSAs cover the person who establishes the account and eligible dependents covered under the High Deductible Health Plan.
  • Tax-Deferred Growth: Their HSA funds grow without being subject to taxes, unless they use them for non-eligible medical expenses.
  • Tax-Free Withdrawals: Employee funds may be withdrawn tax-free, as long as they use them for eligible medical expenses (PDF). Like many retirement accounts, funds roll over from year to year with no “use it or lose it” rules. If the employee waits until after age 65, their funds may be used tax-free for eligible medical expenses, or at their normal tax rate for other purposes.

Are Employees Eligible?

Employees are eligible for an HSA if they’re:

  • Covered under a High Deductible Health Plan (HDHP).
  • Not covered under any other health plan other than the HDHP.
  • Not enrolled in Medicare (typically age 65).
  • Not claimed as a dependent on someone else’s tax return.

The IRS sets annual limits for deductibles, out-of-pocket expenses and contributions. Here are the 2016 limits for single and family plans:

2018 Limits

  • Minimum Deductible:
    Single: $1,350  Family: $2,700
  • Maximum Out-of-Pocket Expenses:
    Single: $6,650  Family: $13,300
  • Maximum Contribution:
    Single: $3,450  Family: $6,850
  • Catch-Up Contribution (55+) 2010 and thereafter:
    Single: $1,000  Family: $1,000

2019 Limits

  • Minimum Deductible:
    Single: $1,350  Family: $2,700
  • Maximum Out-of-Pocket Expenses:
    Single: $6,750  Family: $13,500
  • Maximum Contribution:
    Single: $3,500  Family: $7,000
  • Catch-Up Contribution (55+) 2010 and thereafter:
    Single: $1,000  Family: $1,000


Choice HSA Benefits


Besides the benefits outlined above, a Choice HSA offers competitive product features, benefits and rates. Regardless of their balance, employees receive:

  • Interest earned on every dollar.2
  • Mobile Banking App.3
  • Debit Card with unlimited point-of-sale transactions.
  • Access to over 26,000 fee-free ATMs with MoneyPass.4
  • Checks (price varies by order).
  • Online Banking and Bill Pay.
  • Monthly eStatements for viewing transactions ($2 monthly fee for paper statements).
  • Our Competitive Rates


    $0-2,499 = 0.25% APY1

    $2,500-4,999 = 0.35% APY1

    $5,000-14,999 = 0.45% APY1

    $15,000+ = 0.60% APY1


  •  Fee Schedule5


    daily minimum balances

    No fee=
    daily minimum balances


  • Investment Options


    If employees have $3,000 or more in their HSA, they’re able to work with our partner, Devenir (a leader in healthcare investments), to find investment solutions for their HSA funds.6

Contact our HSA Helpline at (866) 702-9033 or

Email Our HSA Team

1Annual Percentage Yield. Rate effective 1/11/19. Interest is compounded and credited monthly. 2Interest begins to accrue no later than the business day we receive credit for the deposit on non-cash items (for example: checks). Rates subject to change at any time. 3Fee may be assessed by your Mobile Service Provider. 4You may be charged a foreign ATM fee. 5A monthly service charge of $2.50 will apply, waived on daily minimum balances over $3,000.




Contributing to Your Accounts


Contributions to your employees’ Health Savings Accounts can be made in several ways, including:


Payroll Deductions
Contribute to your employees’ HSAs through an employer sponsored plan such as a Section 125 Cafeteria Plan.

Contribute to your employees’ HSAs using Easy Choice ACH. Complete the Easy Choice ACH worksheet and forward to

Check or Money Order
Contributions can be made to HSAs by sending Choice Financial a check or money order. To ensure timely and accurate processing, please include a completed Employee Contribution Spreadsheet.


Wire Instructions

Name: Choice Financial Group
Routing #: 091302966
Account #: Your HSA Account Number
Credit: Customer Name and Account Number
Attention: Operations Team
Wire Cut-off Time: 2:30PM Central Time
Wire Fee for Incoming: $15
Wire Fee for Outgoing: $20



Our team of HSA experts is ready to help you and your employees.

Contact us today!




  • HSA Helpline

    (866) 702-9033
    8:00AM – 6:00PM CST
    Monday – Friday


  • Email

    Email Our HSA Team


  • Address

    Choice Financial
    HSA Department
    4501 23rd Avenue South
    Fargo, ND 58104

As a Health Savings Account (HSA) Administrator we are not certified in giving tax advice, determining the eligibility of insurance or advising customers on how to pay out their HSA dollars. If you have a question on the eligibility of your insurance, contact your health insurance provider. If you question the eligibility of an expense, please refer to IRS Publication 502 on the IRS website.