Savoy Associates is pleased to provide access to the Savoy Associates HSA Program in partnership with The Bancorp Bank.  The Savoy Associates HSA is not associated with any insurance carrier and will provide your employer group clients with full-service HSA banking options which can be paired with a Federally-qualified HSA health plan offered by any group insurance carrier.

For more information on The Bancorp Bank, visit The Bancorp Bank's website: http://www.thebancorp.com/about.

The Savoy Associates HSA Program Difference

The Savoy Associates HSA Program is a partnership in which The Bancorp Bank provides brokers, employers and members with Customer Service as a supplement to Savoy Associates' services. Members have access to a live representative 24 hours a day, seven days a week, and employers and brokers can access a live representative Monday through Friday, from 9:00 a.m. to 6:00 p.m. (EST). The Bancorp Bank's representatives are knowledgeable, tenured, and always available to answer any HSA or account-oriented question.

The program includes:

• Free Visa debit card to access HSA funds;
• Free order of 50 initial HSA checks;
• A simple, free online bill payment service and an online process for depositing funds from other bank accounts at no cost;
• Printable snapshot summarizing annual HSA contributions and distributions - current and prior year;
• A superior investment platform with over 6000 mutual funds and individual equities which are available for self-directed trading.

Click HERE to download the flyer.

Fee Structure

The monthly account maintenance fee is $2.50, which is one of the lowest in the industry for Health Savings Accounts (HSAs)! However, it can easily be waived under the following circumstances:

• Waived for the first 90 days on any newly opened accounts.

• Waived in any statement cycle where the daily balance meets or exceeds $2,500.00.

• Waived in any statement cycle where an account holds a daily balance of $1,500.00, and a monthly electronic deposit is made into the account. (This includes direct deposits and electronic credits received from either the employer or the employee.)

How To Enroll - For New Groups ONLY

If your group is over 25 employees or you are unable to complete your transaction using the website portal, you may submit an Excel file with the group’s information.

Enrollment can be done one of two ways:

1. Online  via https://savoyassociateshsa.mybankingservices.com/
   
   1. Click on the yellow "Group Enrollment Tool" graphic on the homepage. (Please note the Account Login/User ID under the Savoy Associates logo is for members' HSAs only.)
      
   2. Follow the first line of instructions: "To sign up for our group enrollment service, please click here."
      
   3. On the page entitled, "Savoy Associates HSA", please complete all of the fields and select a user name and password. Be sure to indicate your Company Name (Broker/Agency Name) and Broker Name (Optional).
      
   4. Once enrolled in the system, visit https://savoyassociateshsa.mybankingservices.com/group-enrollment-tool/ices.com/group-enrollment-tool/  or click the yellow "Group Enrollment Tool" graphic on the homepage.
      
      
   5. On the "Group Enrollment Set-up" page, follow the second line of instructions: "To access your existing group enrollment account, please click here".
      
      
   6. Once logged in, administrators may immediately begin enrolling employees by entering the following data on the “Group Enrollment Application” page:
      

      1. First and Last Name
         
      2. Date of Birth
         
      3. Social Security Number
         
      4. Driver's License Number
         
      5. Issuing State
         
      6. Street Address
         
      7. Work and Home Phone Number
         
      8. Email Address
         
      9. Authorized Signer - HSAs are individually owned; however, an employee may wish to give someone else access to their account. The Authorized Signer button allows the administrator to submit the signer’s name, social security number and date of birth.
         
      10. Savoy Associates Broker Code - Please enter your Savoy Associates Broker Code* into the Marketing Code field.

          *Click on this link to access your Broker Code via your My Savoy account: http://www.savoyassociates.com/BrokerCode.aspx

          If you do not have a Savoy Associates Broker Code, please click HERE to obtain one.  

      11. Submit Application - Click Submit Application to enter employee information for approval.
          
      12. A blank enrollment page will appear to add another employee.
          

   
   Later, you can log back into the tool to check the status of previous enrollments.

   Once an account is opened, the account number appears for the administrator to facilitate funding, if necessary.

2. Secure email using an Excel file (recommended for groups with over 25 employees).

   1. Click HERE to download Excel file.
      
   2. Complete the broker information, highlighted in green.
      
   3. Complete the employer information, highlighted in yellow.
      
   4. For joint accounts, complete all of the fields, highlighted in blue.
      
   5. Send the Excel file via secure email to SavoyHSA@savoyassociates.com.
      
   6. Please include the broker or agency name in the email.
      
   7. Please include your Savoy Associates broker code.
      
   8. To add members, you can submit additional Excel files to Savoy Associates. (Please include your Savoy Associates broker code.)

    

To contact a Savoy Associates HSA Program representative:

By Email: savoyhsa@thebancorp.com

By Phone: 877.644.1509

Option 1 (Individual, 24/7 live representative available)

Option 2 (Employer, live representative available Monday through Friday 9:00 a.m. to 6:00 p.m. EST)

Option 3 (Broker, live representative available Monday through Friday 9:00 a.m. to 6:00 p.m. EST)