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Typically, is the HSA Bank Account set up for the same effective date as the HDHP (high deductible health plan)?

April 26, 2017bank account deductible effective HDHP Health high HSA

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Typically, is the HSA Bank Account set up for the same effective date as the HDHP (high deductible health plan)?

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No. Typically there is at least a 30 day lag from the effective date of the health plan and the set up of the HSA account. Note: The HSA account may only be set up for the first of the month, so for example of the health plan is effective 7-15, the HSA would likely not be set up until 9-1.

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NO. Typically there is at least a 30 day lag from effective date of the health plan and the set up of the HSA accounts. This may be different based on the insurance company and plan selection.