How to designate beneficiaries at HSA Bank
Beneficiaries are managed online or by mail
HSA Bank has changed ownershipAcquired, effective August 2026
HSA Bank keeps its own brand, its own 24/7 Client Assistance Center, and its own forms, but the chartered bank behind it changed: it is now a division of Santander Bank, N.A. rather than Webster Bank, N.A. Banco Santander, S.A. completed its acquisition of Webster Financial Corporation on August 20, 2026, contributed the surviving entity to Santander Holdings USA, Inc., and merged Webster Bank, National Association into Santander Bank, National Association the same day, with Santander Bank the surviving bank (Webster Financial Form 8-K, August 20, 2026). FDIC BankFind records Webster Bank, N.A. (certificate 18221) as inactive with an end date of 08/20/2026 and Santander Bank, N.A. (certificate 29950) as active, so an HSA deposit balance is now insured through certificate 29950. Section L(b) of the HSA Custodial Agreement is the clause that carried the accounts across: if the organization holding the HSA "is bought by another organization, that organization ... shall automatically become the trustee or custodian of your HSA." Estate procedures, contacts, and forms below are HSA Bank's own and were re-verified after the close.
The key with your HSA Bank health savings accounts is making sure a transfer mechanism is in place—a current beneficiary designation and, where supported, trust titling. Either keeps the health savings accounts out of probate and moving directly to the people you choose.
HSA Bank has 2 health savings accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
What HSA Bank says about beneficiaries
Each section is HSA Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Health savings account
An HSA cannot be retitled to a revocable living trust. The account stays in the individual accountholder's name, and a trust connects to it only by being named as beneficiary.1
The Custodial Agreement states: "Neither you nor any beneficiary may sell, transfer, or pledge any interest in your HSA in any manner whatsoever, except as provided by law or this Custodial Agreement."1
Who can be named1
- A trust
A trust may be named as beneficiary using the trust name, trustee, trust creation date, and trust TIN.2
How many beneficiaries, and how shares are split
What a designation takes to be effective
Beneficiary forms HSA Bank issues1
- HSA Designation of Beneficiary Form
Available to download.2
Return to
Email: hsaforms@hsabank.com
Mailing address: HSA Bank, 909 N 8th Street, Suite 200, Sheboygan, WI 53081-4056
What HSA Bank's agreement says about beneficiaries5
- A designation and a will
The beneficiary designation controls who receives the HSA and overrides instructions in a will.2
- No beneficiary survives
The Help center states that with no beneficiary on file "the assets in your account are distributed to your estate and included on your final income tax return."5
If no primary beneficiary survives, the contingent beneficiaries take the designated share.2
- A beneficiary who dies first
The form states that if a primary or contingent beneficiary dies before the accountholder, "his or her interest and the interest of his or her heirs shall terminate completely," and the remaining beneficiaries in that class take the share pro rata. The form has no per stirpes option.2
- Divorce
Dissolution, termination, annulment, or other legal termination of the marriage automatically revokes a spouse beneficiary designation.2
Sources
Show 2 more sourcesShow fewer sources
Data sourced from HSA Bank primary sources (15 pages reviewed). How we research.
Download these HSA Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against HSA Bank primary sources. Bring it to the branch or keep it beside the phone.
HSA Bank estate support
Client Assistance Center
Phone
Client Assistance Center (direct)
Client Assistance Center (Spanish)
Lost or Stolen Debit Card (holidays)
Business Relations (employers/agents/partners)
Business Relations (direct)
Account summary errors and stop payments
Hours
Mailing address
Website
Estate requests go through general customer service.
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