Does an employee’s HSA receive interest?
HSAs can receive interest. Some administrators do not pay interest, but UMB does. The current annual percentage rates of interest can be obtained by an accountholder through online banking or by calling UMB Customer Service at 866.520.4472.
Interest is credited to the Deposit Account at the end of each month and is compounded monthly. UMB uses the daily balance method to calculate interest. This method applies a daily periodic rate to the balance in the Deposit Account each day. Interest begins to accrue no later than the business day UMB receives credit for the deposit.