Health Savings Account
If you have benefits through a qualified High-Deductible Health Plan (HDHP), a Health Savings Account (HSA) lets you put money aside, tax-free, for healthcare expenses. Unused funds in the HSA are carried over from year to year and continue to earn tax-free interest until you withdraw the funds.
To qualify for an HSA, you must:
- Be covered under a qualified High Deductible Health Plan (HDHP)
- Have no other health coverage besides an HDHP
- Not be enrolled in Medicare or Medicaid
- Not be eligible to be claimed as a dependent
Benefits of a Traditional Bank Health Savings Account
- No enrollment fees
- No minimum balance required
- Competitive interest rates
- Free online account access
- Unlimited Visa Debit Card transactions
- No monthly service charge