1. How to Get Started
  2. Open Health or Education Savings Account
  1. Open Health or Education Savings Account

Get Started with a CESA or HSA in 3 Easy Steps

Step 1. Open Your Account

Open your account using the myEQUITY Online Application Wizard.

Open your account online in less than 10 minutes. You will be guided through the steps to provide your personal information and method of funding for your account. Then after completing a final review your application will be submitted.

What’s next?

Your account will typically be opened within 3 business days. Delays may occur if there are any corrections needed from you in order to complete the account setup process.

Step 2. Fund Your Account

Fund your new account with a contribution or transfer.

There is a $2,000 annual contribution limit imposed by the IRS for CESAs. There are also annual income limits that may impact your ability to contribute to a CESA. For more information related to eligibility requirements, visit www.irs.gov or speak to a CPA or other financial professional.

You can fund your new HSA with a contribution, transfer from an existing HSA, or complete a once in a lifetime rollover from a Traditional IRA (up to the contribution limit).

Each year annual contribution limits are set by the IRS for HSAs. For 2019, the contribution limit for an individual HSA is $3,500 or $7,000 for a family HSA. If you are 55 or older, you can contribute an extra $1,000. To qualify for an HSA, you must have a high-deductible insurance plan. To learn more about eligibility requirements, visit www.irs.gov.

Step 3. Start Investing

Once your account is open and funded, you are ready to invest.

You direct all investments for your account with the freedom and flexibility to diversify your portfolio with both alternative and traditional assets.

Equity Trust will process the investment, per your direction, on behalf of your account.

You can process your investment direction online using the intuitive wizards or Transaction Launcher feature on myEQUITY to submit your request. The Transaction Tracker and dashboard provides access to monitor transactions, around-the-clock and from any device.

OPEN YOUR ACCOUNT ONLINE

Need Help Opening Your Account?

Call 855-673-4721 or schedule a consultation and a Senior Account Executive will answer your questions and walk you through the process.

SCHEDULE A CONSULTATION

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