Health Savings Account (HSA)
A Health Savings Account (HSA) is a tax-favored savings account combined with a qualifying high deductible health insurance policy allowing you to deposit tax-deductible funds into the account to cover qualified medical cost, HSA’s let you choose how to spend your own health-care dollars and have other long-term benefits as well.
Health Savings Account (HSA)
- No minimum balance
- No per check charge
- No opening deposit required
- Free Visa Debit card
- $1.50 monthly maintenance fee
- $25 service fee at account opening
- Check safekeeping standard
- Interest bearing account
- Convenient monthly combined statement
- Free Internet banking
- Initial 50 checks free from bank
- Interest compounded daily
- Any checks or other withdrawals from the account will be considered distributions and will be reported as being qualified medical expenses, unless you notify us otherwise within 15 days of the distribution
- At our discretion, your interest rate and annual percentage yield may change
- The agreement between the custodian and depositor may be amended time to time to comply with the provisions of the Internal Revenue Code and related regulations
- Bank deposits are Insured by the FDIC
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