www.bankofamerica.com/benefitslogin | Open Bank of America Health Savings Account

www.bankofamerica.com

Do you intend to save money for your medical expenses? All you need do is to open a Health Savings Account (HSA) in Bank of America. The sole objective of Health Savings Account (HSA) is to allow you to live safely without any worries concerning how to get the money for your medical bills. To enroll in a group HSA or open an individual HSA account, visit the www.bankofamerica.com and select the benefits solutions login page.

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Overview Bank of America

The bank was Founded in 1998 with its headquarter in Charlotte, North Carolina, As we all know, Bank of America is a multinational banking and financial services company in the United States and currently Serving clients in over 150 countries. According to wikipedia, BOA is the second largest bank holding company in the United States by assets. Bank of America still maintains good relationship with companies of the U.S.Fortune 500 as well as the Fortune Global 500.

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About Bank of America Health Savings

Health Savings Account(HSA) is a platform for individuals or  an employee to be able to save money regarding his/her current and future on medical care and other health related matters provided that the medical expenses is in accordance to the HSA rules and regulations. You can also refer to HSA as a tax-advantaged savings account and highly profitable to subscribers. Opening a HSA account would enable you take care of spending for health care and paying for other expenses that are qualified which might include:

  • seeing a doctor,
  • prescriptions
  • Some over-the-counter drugs.

HSA account also provides you the opportunity to earn the tax free interest which rolls over year by year. What’s more, the account also extends to your change of health plan, change of job and even to your retirement.

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Simple step by step guide to Enroll in a Group HSA in Bank of America

To join a group program as an employee, you need to verify whether your employer has As an employee, you need to confirm whether your Health plan or employer made provision for a group program through Bank of America. If it does, get the Group ID from your employer or Health Plan to complete your Group HSA enrollment by following the steps below:

  • Visit bankofamerica.com
  • Locate the “benefitslogin” button.
  • Select the “Continue” button in the “Enroll in a Group HSA” section.
  • Carefully fill and complete the application form including Group ID, SSN, Name, Date of Birth, ZIP/Postal Code and so on.
  • Select “Continue” to proceed.
  • Provide other personal information in the required fields.
  • Create your User ID.
  • Carefully go through the terms and conditions carefully.
  • Confirm your submitted information as an applicant.
  • Create your account and finish the process.

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Step by step guide to opening an individual HSA account in Bank of America

If you are an individual, you may need to go through the process as follows which is a little different from a group HSA enrollment:

  • Visit bankofamerica.com
  • Select the “benefitslogin” icon
  • Click the “Continue” button in the “Open an individual HSA” section.
  • Carefully fill out the application including SSN, Name, Date of Birth, ZIP/Postal Code, etc. Then click “Continue”.
  • Provide other needed information other information.
  • Create your User ID.
  • Carefully go read the terms and conditions and agree to them.
  • ID Authentication.
  • Verify your Application.

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Some of the benefits HSA at www.bankofamerica.com provides include:

With your personal account, you can manage it online and get the following benefits:

 

  • Rolling over of balance year by year.
  • Make great tax savings.
  • The unused balance and the account will go with you whenever you change for a new health plan find a new job, or retire.
  • Reduced health insurance premiums.
  • HSA can grow tax-free.
  • HSA Balance and Tax Savings Calculator enables you to see your possible future balance and tax savings.

Related:

Reference Links

Bank of America HSA FAQs

HSA Balance and Tax Savings Calculator

Bank of America Homepage – www.bankofamerica.com

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