HSA savings accounts - recommendations?

[kidpokeher]

Does anyone know of a list of banks that provide HSA savings accounts? The one that is mentioned frequently is (ironically) HSA Bank, however I'd like to find one that doesn't charge a monthly "maintenence" fee, has the highest interest rate, etc...

If you have any experiences good/bad with your HSA savings account provider, I'd like to hear that too.

Thanks!

[Cubswin]

Link to Fatwallet Thread

[Statutory]

what is an HSA?

[cbloom]

Any good links to info on these? Maybe this is a good option instead of a SEP-IRA since I'll be able to spend out of it sooner when I have health costs.

[kidpokeher]

Nice link, thanks. Here is some info I found so far:

http://www.firstfedwaukesha.com/90754.html
Interest rate of 6.03% with a yield of 6.20%.
No signup fee.
$2 monthly service fee. (Effective October 1, 2006)
Beat: Apparently you have to open account in person (WI) thanks to the Patriot Act.

http://www.itascabank.com/ - no fees, but the rates are low.

http://www.cattlebank.com/HSAbrochure.pdf
No fees if balance is over $500. 5.06% APY. Checking to see if they have investment options.

[kidpokeher]

[ QUOTE ]
what is an HSA?

[/ QUOTE ]

The fatwallet link has a good general explanation. Also, here's a link from Uncle Sam

[cbloom]

Anyone know if I set one up now can I still deduct it in 2006?

[kidpokeher]

[ QUOTE ]
Anyone know if I set one up now can I still deduct it in 2006?

[/ QUOTE ]

You can make contributions for 2006 until 4/17/07. See page 6 from the Uncle Sam link above.

[cbloom]

[ QUOTE ]

You can make contributions for 2006 until 4/17/07. See page 6 from the Uncle Sam link above.

[/ QUOTE ]

Yeah, I saw that, but my CPA thought it might have to have been an account opened in 2006. Anyway I'll look into it.

[cbloom]

BTW looking at form 8889 you have to pro-rate your maximize conribution based on which months you actually had a HDHP if you didn't have it for the full year.