Phone: 800-893-3255

Health Savings Account (HSA)

Summary

You can save for current and future qualified medical expenses on a tax-free basis through a Health Savings Accounts. An HSA is ideal if you have a health insurance plan with a high deductible.

All withdrawals are tax-free for qualified medical expenses
Can be used for self, spouse, or dependent child, even if they are not covered under a HDHP
Distributions NOT used for qualified medical expenses are taxable and, if under age 65, subject to 10% penalty
No minimum balance to open
Immediate access to your funds
No monthly or annual fees
Interest on your HSA will be calculated on a tiered basis

**Before completing the application, please understand that you must come to one of our bank locations to finalize the account opening process if you have no other accounts with us.

Additional Benefits

Contributions are tax deductible
Money invested carries over from year to year
If you change jobs, your HSA goes with you
Use of a debit card or check
Free duplicate checks
Online access to images of your checks

Eligibility

Must be covered under a qualified, high deductible health plan
Must not have coverage by another type of health plan
Cannot be claimed as a dependent on another person's tax return
Cannot be enrolled in Medicare

Contribution Limit is Determined By:

Whether you have individual or family coverage
Statutory annual limit set by the federal government
If a person is age 55 or older, they are eligible to make "catch-up" contributions