Establishing an HSA

How much does an HSA cost?

A Healthcare Savings Account has a low monthly service fee in order to maintain the account. In addition, there are other fees that may apply depending upon the services you select from UMB (e.g. account closing fees, etc.). A fee schedule will be provided with your Terms and Conditions upon enrollment.

How do you establish an HSA?

If eligible, you can establish an HSA with UMB. No permission or authorization from the Internal Revenue Service (IRS) is necessary. UMB will furnish you a written HSA custodial agreement, Terms and Conditions, and Privacy Statement.

Who can serve as an HSA trustee or custodian?

Any insurance company or any bank can be an HSA trustee or custodian. In addition, any other persons already approved by the IRS to be trustees or custodians of IRAs are automatically approved to be HSA trustees or custodians.

Can you revoke your HSA?

For a period of seven days following the date on which you enter into a Health Savings Account Custodial Agreement with UMB Bank, n.a., you have the right to revoke the Agreement.

To affect a revocation, please write:

UMB Bank, n.a.
P.O. Box 419226
Kansas City, MO 64141

or call 866.520.4HSA (4472).

If you mail a notice, the postmark date (or date of certification or registration, if sent by certified or registered mail) will be deemed the date of delivery, provided that normal mailing procedures are followed.

If you revoke your account within the foregoing time limits, you are entitled to a return of the entire amount deposited to your account without reduction for any fees, expenses, or commissions and without any adjustment for any investment gain or loss.


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.

How to Use ReceiptVault

Easily track and manage your healthcare receipts using ReceiptVault.

HSA FAQ Resource

Find answers to your most common HSA questions in our comprehensive HSA FAQs section