Health Savings Accounts (HSAs)

Healthcare costs open a lot of questions, but one consistent good answer is a Health Savings Account. An HSA provides a vehicle for tax-free earnings; withdrawals are also tax free if used for qualified medical expenses.

We offer two HSAs. THE Health Savings Account has the higher interest rate but limited withdrawals. THE Premier HSA has a slightly lesser rate but offers unlimited access. We can get you into the perfect health savings plan depending on your needs.

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THE Health Savings Account

No setup or annual fees
No monthly service charge
Our highest HSA interest rate
6 free debits per month; $2 each thereafter
$50 minimum deposit to open
Contributions are tax free*
Interest grows tax free
Withdrawals are tax free when used for qualified medical expenses**
Money rolls over year-to-year automatically
HSA is owned by you, not employer

*Consult your tax advisor.

**Withdrawals for non-qualified medical expenses are subject to income tax and a 10% penalty. The 10% penalty is waived for persons 65 and over or who have become disabled.

THE Premier HSA

No setup or annual fees
No monthly service charge
Unlimited check writing
Free debit card
Competitive interest rate
$50 minimum deposit to open
First box of checks free
Contributions are tax free*
Interest grows tax free
Withdrawals are tax free when used for qualified medical expenses**
Money rolls over year-to-year automatically
HSA is owned by you, not employer

*Consult your tax advisor.

**Withdrawals for non-qualified medical expenses are subject to income tax and a 10% penalty. The 10% penalty is waived for persons 65 and over or who have become disabled.

Eligibility

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

Contribution Limits

Contribution limits are set by the IRS. For current maximum contribution limits for both individual and family coverage, please visit the IRS website.