Compare the three savings account options that can be paired with Consumerism plans.
The Bancorp Bank*
Get more information about HSA tax advantages. Visit our preferred HSA administrator, The Bancorp Bank.*
Health Savings Accounts (HSAs)
For employers that contribute to employee HSAs, The Bancorp Bank* provides four contribution methods:
- Online Funding Tool — A secure, online application enables employers to allocate employer and employee deposits to active accounts with simple clicks on Bancorp's HSA website.
- Direct Deposit — An employer, or their third party payroll administrator, may initiate direct deposits into employee accounts via the Automated Clearing House (ACH) network.
- Check — Employers may contribute to employee accounts by sending one lump sum check accompanied by Bancorp's HSA Employer Contribution form.
- ACH/Wire — Contributions to employee accounts can be made through ACH or wire transfer by sending one lump sum check accompanied by Bancorp's HSA Employer Contribution form.
The Bancorp Bank offers a number of ways for employees to contribute to their HSA. These include:
- check or money order;
- credit card transfer without cash advance fees;
- wire transfer;
- direct deposit/payroll deduction;
- e-transfers from another account;
- deposit-accepting ATMs.
* The Bancorp Bank of Wilmington, DE, is a federally qualified bank offering HSA trustee services. It is not affiliated with Independence Blue Cross.