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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.

The author is paid for product endorsements and has an ownership or other financial interest in the businesses related to the topics covered.

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Health Savings Account without fees

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posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date.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: Where can I get a health savings account that does not charge commissions or fees?

A: Free HSAs are available two ways: For Individuals - Free Health Savings Accounts with basic features are available to anyone are available at . Free HSAs with more sophisticated features are available with any individual insurance plan issued at See for details. It is necessary to specifically request a free account at the time of insurance enrollment. For Groups - Free Health Saving Accounts are still available to any business that combines with group health insurance and Health Reimbursement Arrangements (HRA) through Freedom Benefits charges the business a separate $150 fee for setting up business health plans but services to plan members are free. See "Health Insurance" page at . Keep in mind that none of these firms makes the assurance that there will never be any fees for HSAs. The free HSA promotion is designed to help introduce this new type of account to the public. It is possible that these firms will add administrative fees in the future.


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