Bank of America has been one of the leading financial institutions for years. Not only is it a large corporation in America, but it actually has a significant standing throughout the world. Being one of the three largest corporation worldwide, and having an influence in not only every state, but in many other countries as well, bank of America provides services that extend beyond simply creating a financial account. Bank of America allows consumers to create a benefits account, which gives them the ability to make a health savings account (HSA) or a health flexible spending account (FSA), which provides an additional service to people. The health savings account is a tax-advantaged way for a person to put money aside in order to pay for medical expenses. These qualified expenses range from doctor visits to paying for prescription medicines. Often called a medical 401k, the HSA account owner gets things such as tax free interest that rolls over each year and even follows employees to a new job or retirement.
The FSA is similar to the HSA in terms of taking money aside to pay for medical expenses, but the finances do not roll over to the next year and instead they are completely forfeited. Both plans have their benefits and it allows people to choose a health alternative that will allow them to cover their medical bills when they unexpectedly come up. The Bank of America Benefits site provides detailed information on the different types of accounts that can be opened up and what a person can expect from using them. Below is a guide on how to access and manage the Bank of America Benefits online section.
What You Will Need to Access and Manage the Bank of America Benefits Online Section:
- A Computer, laptop, tablet or smartphone
- Internet access
Steps to Access and Manage the Bank of America Benefits Online Section:
- Copy and paste the following URL into your browser or if your system allows, click the link we have provided here: www.bankofamerica.com/benefitslogin
- Sign in by using your Username
Note: If you are a new user create a username and password, which will require you to submit your social security number or employee ID.