Sometimes an apple a day keeps the doctor away — but when it doesn’t, there’s the HSA. Save for medical costs with tax advantages.*
Key Features
- Competitive Interest
- Tax Advantages
- No Monthly Service Fees
- No Minimum Balance Requirements
Benefits
- Prepare for qualified medical expenses by saving with tax benefits*
- Earn competitive, tiered interest above standard savings
- Receive higher rates on larger deposits
- 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- Funds can be withdrawn at any time**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 monthly service fee
- 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
- Free debit card
- Free digital banking, including:
- Online banking
- Mobile banking
- eStatements
- No minimum deposit to open
Eligibility
Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.
*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 However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.