-
- - Health
Savings
Accounts - - -
The skyrocketing
expense of health insurance is a concern to many people. Unexpected health
care costs can result in financial stress. For these reasons, we
offer Health Savings Accounts (known as HSAs) to allow you to have a reduce
insurance premium and save for future out-of-pocket expenses.
What are
Health Savings Accounts?
Health Savings
Accounts are tax-exempt accounts established exclusively for the purpose of
paying or reimbursing qualified medical expenses of you, your spouse, and your
dependents.
Our Health Savings
Accounts offer the following:
-
Tax-Deductible Contributions
-
Tax-Free
Interest earnings
-
Tax-free
withdrawals for qualified medical expenses
-
No setup
fees
-
Unlimited
check writing
-
Competitive Interest Rates
-
Monthly
Statements
-
Low
minimum opening deposit
-
Eligibility rules do apply
Who is
Eligible for a HSA?
Certain
eligibility rules apply. Please contact the Bank for complete eligibility
rules. You may be eligible for a HSA if you:
-
are
covered under a high-deductible health plan,
-
are not
also covered by any other health plan that is not an HDHP,
-
are not
enrolled in Medicare; and
-
cannot be
claimed as a dependent
For complete
disclosures and to determine if you are eligible to open an HSA account, please
contact the Bank.
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