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The health plan, part of the application

Insurance provider, coverage level and effective date are collected up front.

Today

An HSA goes on a savings form, and the qualifying health plan behind it is assumed, or collected on a side form that arrives later.

With Crown

Custodial HSA is its own type, and the journey asks for the plan behind the account: the insurance provider, the coverage level, and the date it became effective.

  • Insurance provider
  • Coverage level
  • Plan effective date

An HSA and its entity, opened together

Self-directed HSAs paired with an LLC or trust, opened as a pair.

Today

A self-directed HSA paired with a checkbook entity is two accounts, so it is two applications, linked afterwards by hand.

With Crown

One application collects both. Crown opens the HSA first, then the LLC or trust checking account linked back to it as its primary, and the customer signs both in one packet.

  • Custodial HSA + LLC Checking
  • Custodial HSA + Trust Checking
  • HSA opens first

Expected activity on every HSA application

Beneficiaries and expected monthly activity are collected before opening.

Today

Designations arrive on a form after opening, and expected activity gets asked for only when something on the file prompts the question.

With Crown

Primary and contingent beneficiaries are designated inside the journey. Crown treats HSA accounts as a higher-risk product, so every one of them states its expected monthly activity.

  • Designations in the journey
  • Expected activity on every file

Screening matched to the account

The account holder is screened; a checkbook entity adds business verification.

Today

The account holder is verified in one place, the entity in another where there is one, and somebody reconciles the two.

With Crown

KYC, identity risk checks and OFAC sanctions and watchlist screening run inside the journey. A custodial HSA on its own runs no business verification; pair it with a checkbook entity and KYB joins the same application.

  • KYC and OFAC on the signer
  • KYB when there is an entity
  • Findings stay bank-only

From application to account, under your rules

Eligible applications open automatically; the rest go to your bank’s team.

Today

The file waits for review, then somebody types it into the core. Anyone who asks where it stands asks a person.

With Crown

An HSA that satisfies your bank’s configured rules can be approved and opened automatically. Anything else goes to your team, and Crown opens on your configured core integration either way.

  • Your opening rules
  • Your core integration

Questions banks ask about HSA accounts.

What the application collects, how accounts open, and what stays with your bank.

What does the application collect about the health plan?

The insurance provider, the coverage level, and the date the plan became effective. An HSA has to be paired with a qualifying high-deductible health plan, so the application asks for it directly.

Can a custodial HSA be paired with a checkbook entity?

Yes. A custodial HSA paired with LLC or trust checking is a single application that opens both accounts and links the checking account back to the HSA as its primary.

See what the LLC side collects

Why is expected activity collected on every HSA?

Crown treats HSA accounts as a higher-risk product, so expected monthly activity is on every HSA file. Other account types collect it only when the customer’s compliance answers call for it.

Does spousal consent apply to an HSA?

No. Spousal consent is resolved on IRA applications only. HSA applications designate beneficiaries without it.

See how consent works on an IRA

What is Crown?

Account onboarding and account opening software for banks and trust companies. One application carries a customer from a branded first step through identity verification, business verification and OFAC screening to a decision under your bank’s rules, and then opens the account on your configured core integration.

The health account, opened like a retirement account.

See a custodial HSA collect its health plan and open on your core.

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