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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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US Bank Health Savings Account problem

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If in doubt, please send a new question or ask for an update.

Q: US Bank apparently refused my pre-tax contribution because my account was set up as a “retail product” as opposed to the Institutional Trust and Custody Health Savings Solution Account recommended by my employer. Can you point me in the right direction?

A: U.S. Bank seems have its own operating procedures that are different than the larger HSA administrators. You can set up your own HSA account and make pre-tax contributions with any of the largest national administrators listed at You do not need the co-operation of your employer of the funds are your own voluntary contribution.


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