Get Umb Health Savings Account Closure Fees

Fees Monthly Maintenance Fee$2.50*Account Opening Fee$0.00Account Closing Fee$15.00

When your balance reaches the minimum balance set by your HSA Administrator (typically $1,000), you have the option to invest your HSA funds into the UMB HSA Saver investment portfolio.

If you are wanting to close your UMB HSA and transfer the dollars to another custodian, you do NOT need to complete this form. Instead, you will need to complete the trustee transfer form required by your new HSA custodian.

When your balance reaches the minimum balance set by your HSA Administrator (typically $1,000), you have the option to invest your HSA funds into the UMB HSA Saver investment portfolio.

How to close a health savings account Once you receive your remaining balance, you have 60 days to contribute your funds into another HSA in your name or use them for qualified medical expenses. ... You should stop any scheduled payroll contributions through your employer before requesting the closure.

Monthly administration fees of $2.95 for each month are deducted from the HSA each month to UMB ($35.40 annually).

You may withdraw any portion or all of the funds from one HSA or Archer MSA and roll them into an HSA with another custodian or trustee. However, you are required to roll the funds into a new HSA within 60 calendar days of your receipt of the funds.

HSA Closure Fee $25.00 To avoid this fee, keep your account open with HSA Bank and continue to use your HSA funds for eligible expenses.