Cash and Savings Balance Accounts
One of the key goals of an HSA is the long-term savings of your money, but you also need to have access to your money when and where you need it. Through National Advisors Trust, your HSA money is maintained in two "liquid" accounts and is readily available if the need arises.
Cash — Your National Advisor’s Trust HSAToday® program requires the first $100 of your HSA funds to be maintained in a “Cash” balance account, which includes your $25 miniumum account balance. This serves as the base component of your HSA and is "liquid." Although the money in the Cash account does not earn any return, amounts deposited beyond the first $100 automatically flow into “Savings," which earns interest on a daily variable rate as shown in the "Savings Rates" section on this page.
Savings — The second balance account component offered by National Advisors Trust's HSATodayTM program is a "Savings" account and consists of a Money Market Fund. This fund is also "liquid," meaning that your savings balance is accessible whenever you need more money than is currently available from your “Cash” balance account. The rate of interest can vary daily and is shown in the "Savings Rates" section on this page. The earnings post to your account monthly. Although Money Market Funds are not FDIC-insured bank savings accounts, they are “traded” on par with the dollar, which means that the are very stable, with virtually no market risk associated with balances in the account.
An added feature of your savings account is the option of using the mySourceCard™ MasterCard® Debit Card. Your card, if made available by your PSP and elected by you, is directly connected to the funds in your savings account. This option makes accessing your HSA funds as easy and convenient as a swipe of the card.
Investments — There is a third, and optional, balance account component of National Advisors Trust's HSATodayTM program. Investments, if made available by your PSP, and elected by you, allow you to invest funds into a variety of Mutual Funds. Click here to learn more about the Investment Program option.
