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Health Savings Accounts (HSAs) offer a tremendous opportunity for you to take control of your health care. Created as part of the Medicare Bill passed in December 2003, the combination of a High Deductible Health Plan (HDHP) and an HSA offers you a tax-advantaged method of saving money for medical expenses and lowering the premiums you pay for health insurance coverage.
An HSA allows you to pay for current health care expenses and future qualified medical and retirement health care expenses on a 100 percent tax-free basis. HSAs can also be used to supplement retirement income. The funds in your HSA are controlled by you and are rolled over every year for your health care expenses.
More Information on HSAs
Potential Savings with an HSA
Account Features
- A competitive, variable rate of interest on qualified account balances. Interest compounded monthly
- Unlimited check writing convenience
- No minimum balance requirements
- Free Debit Card
- Free 24-hour Telephone Banking
- Friendly, local, personal service
- No monthly fees on accounts with a positive balance1
- No setup fee with initial deposit of $500 or more or with Convenience Package
Convenience Package Option
- Free monthly e-statements with check images
- Free online account access with Internet Banking to view your transactions and make contributions
- Free online Bill Pay access to conveniently pay your medical bills 24/7
1 $10 minimum balance fee each month if the balance in the account falls below $0 any day of the month.