Health Savings Account (HSA)
We know staying healthy can get expensive, but money should never be a consideration. Start saving now for future medical expenses so you don't have to think about it. This account was designed to supplement your high deductible health plan — so you can afford doctor's visits, prescription medication, or anything else. Ensure that you're prepared for any illness or unexpected health bills.
- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Earn interest above standard savings on entire balance
- An HSA provides triple tax savings:
- Tax deductions when you contribute to your account
- Tax-free earnings through investment
- Tax-free withdrawals for qualified medical, dental, vision expenses, and more*
- Contributions are tax-free and can be made by you, your employer, or a third party
- Funds can be withdrawn at any time**
- No minimum balance requirements
- Unused funds remain in account year after year; no "use it or lose it" policy
- Keep your HSA in your name, regardless of career or life changes
- Federally insured by FDIC
- $100 minimum deposit to open
- Quarterly charge of $5
*Consult a tax advisor.
**You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and may be subject to a 10% penalty.