Healthcare costs can be unpredictable —you can be prepared with an innovative account that helps you save for qualified expenses.
- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Earn tiered interest above standard savings on entire balance
- An HSA provides triple tax savings1:
- 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
- No monthly maintenance fee
- No minimum balance requirements
- Funds can be withdrawn at any time2
- 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
- $3 monthly paper statements, electronic statements are free.
- Free digital banking
- Convenient access to funds via free debit card
- Federally insured by FDIC
- $25 minimum deposit to open
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.
1Consult a tax advisor.
2You 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 However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.