Health Savings Accounts (HSAs)

Health Savings Accounts (HSAs)

Summary

Offer your employees with high deductible healthcare plans a way to pay for their medical expenses, tax-free. An HSA group plan is a smart way to control healthcare costs by putting pre-tax dollars to work. A practical way to look out for your staff.

  • For employees with high deductible healthcare plans (HDHPs)
  • Low $20 set-up fee
  • Fund account with pre-tax dollars
  • Earn higher rates for higher balances*
  • Draw from HSA to pay for medical expenses:
  • Doctor visits
  • Prescription medications
  • Surgeries and operations
  • Dental
  • Optical
  • Much more
  • Easily pay for health costs directly with
  • HSA debit card
  • Checks
  • $5 monthly service fee for average balances under $700
  • Service fee is waived first 6 months

*If eligible.

Rates

APR = Annual Percentage Rate.

Fees may reduce earnings.

HSA Rates

TierInterest RateAPY
$10.00 - $999.990.25%0.00% - 0.25%
$1,000 - $9,999.990.50%0.25% - 0.48%
$10,000 - $24,999.991.15%0.48% - 0.88%
$25,000 - and over1.25%0.88% - 1.26%

Health Savings Accounts are for eligible individuals for the purpose of paying for qualified medical expenses. Our HSA is a tiered-rate checking account that pays higher rates if you maintain a higher balance. You may open this account without a monetary deposit, but you must pay your account set up fee and maintain a minimum daily balance of $10.00 to earn interest and the stated APY. After the first six months, a service charge of $5.00 will be imposed every month that the Average Daily Balance in the account for the month falls below $700.00. Only the deposited funds that comprise each tier earn the rate for that tier. This account may have as many as eight rate tiers, but currently has four tiers as listed above. There is an account setup fee of $20.00 which covers your first box of checks, deposit slips and your HSA Debit Card. See our Electronic Funds Transfer (EFT) Agreement and Disclosure for information regarding HSA Debit Card privileges. See our HSA Information packet for additional eligibility information, terms and conditions.