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BMO Harris Health Savings Account®

A Health Savings Account (HSA) can make paying for health care easier and less expensive. It’s an account that earns interest and can be used to pay for all your qualified medical expenses.

If you’re enrolled in a High Deductible Health Plan (HDHP), a companion HSA may provide tax-advantaged savings.1 Any funds in your HSA are yours, even if you change health plans or employers. Plus, your account balance can be carried over from year to year.



Features of a BMO Harris Health Savings Account®

doctor examining
  • Pay for qualified medical expenses
  • Easily access your funds
  • Contributions, earnings and qualified distributions aren't taxed1
  • Variable interest rates2
  • No minimum opening deposit
  • No monthly maintenance fee
  • Free paper and online statements with check images3
  • Chip-enabled BMO Harris HSA Debit Mastercard®
  • HSA checks and a BMO Harris Bank HSA Debit Mastercard® for a dependent4 available on request
  • Manage your account online with BMO Harris Online Banking®and BMO Harris Mobile Banking®5
  • Make contributions through Direct Deposit or transfer from your personal checking or savings account
  • $25 fee to transfer your account to a new custodian.

To be eligible for an HSA account, you must be enrolled in a qualified HDHP and meet the IRS eligibility requirements.1 Call 888-340-2265 for details about a BMO Harris HSA.

To be eligible for an HSA account, you must be enrolled in a qualified HDHP and meet the IRS eligibility requirements.1 Call 888-340-2265 for details about a BMO Harris HSA.


Helpful Resources

Download and complete the form you need, then bring it into a branch
and we’ll take care of the rest.

Order an HSA card for dependents?

Assign or change a beneficiary


These documents describe the terms and conditions of your account:


Helpful Resources

Download and complete the form you need, then bring it into a branch and we’ll take care of the rest.

Order an HSA card for dependents?

Assign or change a beneficiary


These documents describe the terms and conditions of your account:


Frequently Asked Questions


How much can I contribute to my HSA?

 

For 2019, you can contribute up to $3,500 into an HSA for individual or $7,000 for family coverage.

 

For 2018, you can contribute up to $3,450 into an HSA for individual or $6,900 for family coverage.

 

Individuals aged 55 or older (and not yet enrolled in Medicare) can make additional "catch-up" contributions of up to $1,000 per person in 2019.


How can I find out my account balance and review transactions?

 

Account balance and transaction information is available by phone or with BMO Harris Online Banking and BMO Harris Mobile Banking5 24 hours a day, seven days a week.


How will I be able to access my HSA funds?

 

You’ll receive a BMO Harris Bank HSA Debit Mastercard® to access your HSA funds. You may request checks to make payments from your account. You can also pay for eligible expenses with any other form of payment and request a withdrawal from your account.


Are there ATM fees when I use my BMO Harris Bank HSA Debit Mastercard®?

 

You’ll have unlimited fee-free transactions at over 40,000 BMO Harris and Allpoint® network ATMs nationwide. There’s a $3 BMO Harris fee for each non-BMO Harris ATM transaction6.


What happens if I use my HSA for an ineligible expense?

 

If you use your HSA to pay for an ineligible expense, you may be required to pay income taxes and an additional penalty tax.


Can I make additional contributions to my HSA?

 

You can make additional contributions subject to the IRS contribution limits.


Where can I use my BMO Harris Bank HSA Debit Mastercard®?

 

Your card can be used nationwide at qualified merchants, such as pharmacies, doctors’ offices, vision centers, and hospitals.


Can I order a replacement or additional card for my spouse or dependent?

 

Yes. Just download and complete the HSA card form above and bring it into a branch.


Do I need to keep my receipts when I use my HSA?

 

Yes. The IRS may require documentation to show your funds were used for qualified expenses. Make sure to always hold on to your itemized receipts.


Can I transfer HSA funds from another administrator into this HSA? How much can I transfer?

 

Yes, you may transfer prior HSA funds from another administrator into this HSA. You may choose to transfer any amount from a previous HSA into this HSA, and the amount that you transfer does not impact your annual HSA contribution limit.

 

If you would like to transfer funds from a previous HSA to this HSA, please visit a branch or contact customer service at 888-340-2265. The paperwork will direct you to the next steps, including where to submit the required information. Once the form is received, the HSA custodian bank will process the transfer.


Is there a fee to transfer your HSA account to a new custodian?

 

There is a $25 fee to transfer to your account to a new custodian.



Definitions of Capitalized Terms


Mastercard® and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated.


  1. Contributions to and earnings on HSAs are not subject to federal taxes, but may be subject to state taxes depending on where you reside. BMO Harris Bank N.A. does not provide tax or legal advice. You must seek the advice of your own tax and legal professional to ensure your compliance with applicable HSA and other laws
  2. Please read Interest Rates and Calculations for information on interest on deposit accounts.
  3. Customer must request Check Images from a BMO Harris Banker.
  4. Dependent cardholder must be a spouse or dependent child age 18 or older.
  5. Message and data rates may apply. Contact your wireless carrier for details.
  6. The ATM Operator or network may also charge you a fee for a transaction or balance inquiry.