Savings Health Savings Accounts

Save on copays, prescriptions, and more.

A Health Savings Account (HSA) is like no other savings account. The money you contribute goes in, grows, and comes out income-tax free when used for qualified medical expenses. Plus, the account is yours to keep even if you change jobs or move off a qualifying HDHP.HSA’s are subject to limitations and/or penalties imposed by the Internal Revenue Service. Please consult with your tax advisor to determine your specific tax situation.

Features & Benefits

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No “use it or lose it” rule

Unlike a Flexible Spending Account (FSA), any unused money is carried over each year.

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Easy Cash Access

Use your HSA debit card to pay for qualified medical expenses and monitor your spending through Digital Banking.

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Tax-Related Perks

You get tax-free earnings and tax savings when you contribute.HSA’s are subject to limitations and/or penalties imposed by the Internal Revenue Service. Please consult with your tax advisor to determine your specific tax situation.

Other Benefits

  • It’s yours to keep. Even if you leave your employer, relocate, or become unemployed, the money is yours. 
  • Earnings are not affected by changes in the stock market.
  • Supplement Your Retirement. At age 65, you can use the funds for non-medical expenses without penalty.

Also included

How does it work?

Looking for a great, tax-advantaged way to save on copays, prescriptions, long-term care, and other qualified medical expenses? If you have a high-deductible health plan (HDHP), you can!

Terms & Fees

TermFee
Minimum opening deposit$25
Minimum daily balanceNone
Monthly low balance fee$0
Monthly service fee$0

Do I Qualify For An HSA?To confirm your eligibility to open an HSA, check with your employer, health insurance provider or the U.S. Treasury’s website

To be eligible and qualify for an HSA, you must meet the following requirements:

  • You are covered under a High Deductible Health Plan (HDHP)
  • You have no other health care coverage, except what is permitted under “Other Health Coverage,” listed on IRS.gov
  • You are not enrolled in Medicare
  • You cannot be claimed as a dependent on someone’s tax return
  • You have not received Veteran’s Affairs medical benefits within the past 3 months
  • You do not have a Flexible Spending Account (FSA) or a Health Reimbursement Account (HRA)

Open Your Health Savings Account Today!

To learn more about HSA funds and health coverage, call us at 800.456.3000 or visit your local branch.