Approved HSA Banks in Connecticut

Though many people, including insurance agents, believe that there is some complex process that one must go through to be approved as a bank allowed to take HSA money, it is not true.
Banks and credit unions are automatically approved to offer HSAs to their customers as either a trust or a custodial account. Insurance companies and other entities who are approved trustees/custodians of IRAs are approved to offer HSAs. Additional entities wishing to become approved trustees/custodians of HSAs can apply to the IRS to do so.

HSA funds can be invested in the same types of investments as IRAs. All banks do not have to offer all investment options to account holders. But many are now doing so. If the money accrued in your account is less than $2,000 it probably doesn't matter where the money is being invested. But for larger amounts it makes sense to see what options are available to you. Your HSA funds may very well grow to tens of thousands of dollars or more. You certainly don't want to make 1% on $40,000. So do a little research before you open your account. We can help as well.

Here is a list of some of the HSA banks that do business in Connecticut.