A Health Savings Account (HSA) is a type of personal savings account that helps those with qualified high-deductible health plans (HDHPs) pay for out-of-pocket medical expenses; for example doctor visits, vision and dental care, and prescriptions. Any unused balance in this account carries over from one year to the next.
An HSA also offers unique tax advantages including:
- Pre-tax contribution
- Tax-free gains
- Tax-free withdrawals (when money is used for qualified medical expenses)
Open a Health Savings Account
- Available for customers who have a HDHP (High Deductible Health Plan)
- $50.00 minimum amount to open account
- No monthly service charge if an average monthly balance of $5,000 is maintained, or if the customer is signed up for eStatements.1
- No closing fee if the account is open for at least one year.2
When opening a Health Savings Account you will receive a free ATM/Debit card and a starter pack of checks.
Information about procedures for opening a new account
Health Savings Account Rates
|$15,000 & Up
Please see a Bank Representative for full details. Rates and terms subject to change at bank discretion. All interest rates are compounded daily. Penalty may be imposed for early withdrawal on certificate of deposit.
APY**: Annual Percentage Yield
APR*: Annual Percentage Rate
1 An average monthly balance of $5,000.00 must be maintained or account signed up for eStatements to avoid a $3.00 service charge that would be assessed at the time of your statement.
2If the account is closed within one year of opening, a $25.00 closing fee will be assessed.
3Consult your tax advisor.