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HSA - Health Savings Account

What is a health savings account? In its simplest form, a Health Savings Account (HSA) is much like a personal savings account but it may only be used to pay for qualified medical expenses, such as prescriptions and co-pays from a doctor's visit. The money you place into an HSA is not taxed and the amount you can add each year is determined by the IRS (and subject to change).

Health Savings Accounts are available to taxpayers who are enrolled in a High Deductible Health Plan (HDHP). The money in your HSA rolls over each year and accumulates if it's not spent.

HSA Tax Benefits

  • You can deduct all contributions to your HSA on your taxes, with the exception of any money added to your account by an employer or from your IRA
  • Withdrawals from your account may be made tax-free to pay for qualified medical expenses, including vision and dental
  • Earn tax-free interest on the money in your Health Savings Account

Our HSAs

We have health savings account options for individuals and for families. Our HSAs are checking accounts that come with debit cards1 and checks that allow you to pay for your medical expenses. You can manage your HSA through online banking or our app, including depositing checks into your account from your smartphone.

 Minimum Opening Deposit $50 
 Monthly Service Charge  $4 per month if balance falls below $500 anytime during the month
 External Account Transfers  $.50 each
 Expedited Bill Payment  Up to $19.95
 Overdraft Fee Will not incur overdraft fees

Open Your HSA Today

We would be happy to open a health savings account for you in person at any of our community offices.

Consult IRS Publications 502 and 969 or your tax advisor for more information on Health Savings Accounts.

1HSA Debit Cards can't be used at ATMs