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Health savings account (HSA)

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A health savings account (HSA) offers employees a smart way to save with pre-tax dollars. If you are enrolled in a HDHP, you can contribute pre-tax dollars to an Associated Bank HSA account or an HSA account from another financial institution of your choice.

Maximum contributions for 2022 as set by the IRS are as follows:
  • $3,650 single
  • $7,300 family

Catch-up contributions of up to $1,000 may be made annually for those 55 and older.

Maximum contributions for 2023 as set by the IRS are as follows: 

  • $3,850 Single  
  • $7,750 Family 
Catch-up contributions of up to $1,000 may be made annually for those 55 and older. 
  • To begin making pre-tax contributions through payroll deduction, you must first open your account via myADP.
  • Funds are not available for use until your account is opened.
  • Purchases made prior to account opening are not eligible.
  • You can change your election amount on a bi-weekly basis if it does not exceed IRS limits.
  • If you want to take advantage of the IRS maximum contribution for 2023 don’t forget to update your enrollment on myADP during Annual Open Enrollment!
  • Tax saving and earned interest — Contributions are tax-deductible and earn tax-free interest.
  • Portability — You own your account, so even if you change jobs, your HSA funds are yours to keep.
  • Affordable health coverage — Use the HSA to cover 100% of out-of-pocket costs for routine medical expenses, such as office visits, lab tests and prescription medications.
  • Long-term savings — Contributions to your HSA accumulate and roll over year-to-year with no limit, which allows the account to grow tax-deferred.
  • Retirement bonus — After age 65, funds may be withdrawn for any reason with no penalties. (If used for non-medical purposes, however, taxes will be imposed.)
  • Safety net — A HSA has no “use it or lose it” restrictions, so balances can be built up to use for major medical events.
  • Coverage for the “extras” — HSA funds may be used to pay for services often not covered by a medical plan, including dental and vision expenses.
  • Money that works for you — Balances over a certain amount may be invested.
  • Empowerment — Take control of your health care decisions, including which providers you want to use, to ensure your health care dollars are spent wisely.

Accessing your account online

Associated Bank offers an online portal for you to access, view, and manage your HSA account 24/7. Go to to get started. For detailed instructions please click here for HSA Participation Guide.

Associated Bank offers a mobile app called HSA Plus Mobile App. This app allow you to securely access your HSA account, submit claims, and upload receipts at any time. Click here for more information on the HSA Plus Mobile APP.

If you accumulate more than $1000 and don’t intend to use it immediately, Associate Bank offers a self-directed option to invest your money in mutual funds. Please log into your account via HSA Plus consumer portal at to set up your investment account. For a complete list of investment options, please click here.

Questions or need help making changes?

Contact the benefits team.