Inspira Financial
Quick Summary
- Formerly PayFlex, now Inspira Financial
- 7M+ clients
- $62B+ in assets
- 30 mutual funds + stable value
The Verdict
Inspira Financial offers a solid foundation with zero monthly maintenance fees and mutual fund investing, earning a 3.1/5.0 rating from HSA Orbit.
Inspira Financial provides health, wealth, retirement, and benefits solutions that strengthen and simplify the health and wealth journey. With more than 7 million clients, representing over $62 billion in assets, Inspira works with thousands of employers, plan sponsors, recordkeepers, TPAs, and other institutional partners — helping the people they care about plan, save, and invest for a brighter future. Inspira relentlessly pursues better outcomes for all with our automatic rollover services, health savings accounts, emergency savings funds, custody services, and more. Learn more at inspirafinancial.com.
Key Features
Banking & Access
Includes debit card and online banking.
Investment Options
Offers mutual fund investing.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
No minimum balance to open. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance* | $0.00 | $0.69 | EXCELLENT |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $0.00 | $1.95 | EXCELLENT |
| Non-Sufficient Funds (NSF) | $25.00 | N/A | -- |
| Deposit Item Returned | $25.00 | N/A | -- |
| Mailed copy of monthly statement (statements available online, no fee) | $1.50 | N/A | -- |
* No fee for employer-sponsored accounts
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Mutual Fund Investing
Access mutual fund investments through your HSA with Inspira Financial.
- Minimum Threshold$1,000
- Fees30 SEC-registered mutual funds + 1 institutional stable value option
Interest Rates
Standard Rates
| Balance Range | APY |
|---|---|
| $0 - $2,000 | 0.01% |
| $0 - $2,000 | 0.05% |
| $2,000 - $7,500 | 0.10% |
| $7,500 - $15,000 | 0.25% |
| $2,000+ | 0.05% |
| $15,000+ | 0.50% |
Last updated: 12-11-2023
Contact Information
Address
2001 Spring Road, Suite 700, Oak Brook, IL 60523
Customer Service
1-844-729-3539
2001 Spring Road, Suite 700 Oak Brook, IL 60523 Customer Service Mailing Address PO Box 8396 Omaha, NE 68108-8396
Sales Contact
917-488-2033
At a Glance
Pros & Cons
The Good
- •No monthly maintenance fees
- •No account opening or closing fees
- •FDIC/NCUA insured deposits
The Bad
- •$1,000 minimum to invest
User Sentiment
Based on community feedback
Sentiment data coming soon
Compare with Related Providers
Associated Bank
At Associated Bank, we take great pride in serving the people, businesses, and communities of the Midwest and beyond. Since establishing our HSA business line in 2003, we have built a high-performing, customer-focused team of professionals. Every time you call, you’ll speak with a fully licensed professional dedicated solely to servicing HSA and other health benefit accounts. With a long list of benefits for both employers and participants, we continue to prove our commitment to providing great local customer service and offering excellent, affordable benefit accounts.
Read Review →HSA Bank
HSA Bank, a division of Webster Bank, N.A., empowers you to make the most of your healthcare dollars. Our vision is to inspire you to own your health by simplifying the health account experience and utilizing cutting edge technology and innovation to help you make sure you're on your way to a healthy financial future. With over 20 years of experience, we are a trusted leader in the consumer-directed healthcare industry. And we believe that being values-guided bankers, who put our customers and our employees at the heart of everything we do, is what sets us apart.
Read Review →MassMutual
MassMutual was founded on May 15, 1851. And from the beginning, we’ve had a single purpose: to help people secure their future and protect the ones they love. More than 160 years later, that commitment remains our guiding principle. It’s behind everything we do and every decision we make. It’s how we continue to deliver products and services to help our policyowners and customers achieve their financial goals, and protect those who matter most.
Read Review →Latest HSA Strategies
View all articlesI Double-Counted My Payroll HSA Contribution — How to Amend
Discover how to fix a double-counted HSA deduction on your tax return using Form 1040-X, with step-by-step amendment instructions.
Form 5329 and the 6% Excise Tax: When It Applies for HSAs
Learn when the 6% excise tax applies to excess HSA contributions, how to calculate it on Form 5329, and how to stop it from recurring.