If administration and account maintenance fees are withdrawn from the HSA or paid by the accountholder or employer directly to UMB, does the amount withdrawn or paid for these fees increase the maximum annual HSA contribution?
Administration and account maintenance fees paid from the HSA or directly by the account beneficiary or employer are not deducted from the total contribution or the annual limit. For example, an individual contributes $2,000 to their HSA. Monthly administration fees of $2.50 for each month are deducted from the HSA each month to UMB ($30 annually). The individual's maximum annual contribution limit is not affected by the payment of the administration fee and the annual contribution is still reported as $2,000, not $2,030.
Introducing UMB HSA Saver
UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.
HSA FAQ Resource
Find answers to your most common HSA questions in our comprehensive HSA FAQs section.