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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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Free HSA Account?

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posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date.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

Q: I read that the only free Health Savings Accounts without fees required a specific company's health insurance. Is that the case with the First American Bank HSA?

A: No, this has changed. First American Bank now offers a free interest-paying HSA account with basic features to anyone with a qualifying insurance plan from any insurance company. The account is available in all 50 states and DC though online enrollment. This is an interest-bearing account only; no securities are offered. Statements are provided online. If you need paper statements by mail, there is a $3/month fee. Otherwise this is the best deal available for an HSA now.


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