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09/07/08 |
How do I make Contributions to my account?
You can contribute to your Health Savings Account in several ways, including:
Check or Money Order
You can make contributions to your HSA by sending Choice Financial a check or money order. To ensure timely and accurate processing, please include one of the deposit
tickets provided with your checks or write your HSA account number in the memo area of your check.
Automatic Transfers
You are able to make contributions to your HSA through Automatic Transfer. Automatic Transfer, or ACH, is a bank originated electronic contribution. The contributions will automatically be drawn from a different account on a recurring basis and placed in your HSA. If you prefer the Automatic Transfer contribution method, you will need to complete the Automatic Transfer Authorization Form.
Transfer/Rollovers
You are able to transfer or rollover the funds you have in an existing MSA, HSA or IRA or FSA (check rules that may apply) with another institution to establish or combine funds to your HSA with Choice Financial. Please use our HSA Transfer Request Form.
Payroll Deductions
Contributions to your HSA can be made through an employer sponsored plan such as a Section 125 Cafeteria Plan. In a Cafeteria Plan, the employer takes your HSA
contributions out of each paycheck on a pre-tax basis. To implement this option, please E-mail Lori Doele at lorid@choicefinancialgroup.com.
| 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: |
2:30 PM |
| Wire fee for incoming: |
$15 |
| Wire fee for outgoing: |
$20 |
If you are completing a TRANSFER of funds to a new Choice HSA from a mutual fund company, IRA, or HRA, please note that transfers from other companies can sometimes take up to 60 days before Choice receives your funds. Therefore, if you are opening an HSA and will need funds to pay for medical expenses, you will want to determine alternate means to cover these expenses.
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