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Health Savings Account

A healthy way to save

Health Savings Accounts (HSAs) can help you manage your health care costs. If you have a high-deductible health plan (HDHP), you can set aside funds tax-free in an HSA to pay medical expenses. Unlike a flexible spending account, you do not lose money if you do not spend your contributions within the calendar year. Features include:

  • Low opening deposit of $100 + a low setup charge
  • No monthly service fee for balances greater than $0
  • No transaction charges
  • HSA Debit Card offers convenience payment method
  • Unlimited check writing

To be eligible for an HSA, you need to meet the following criteria:

  • Are not enrolled in Medicare
  • Are not claimed as a dependent on another’s tax return
  • Do not have additional health coverage that isn’t a qualified high-deductible health plan (HDHP)
  • Are covered by an HSA-eligible, high-deductible health plan (HDHP)

Individuals and/or employers set aside funds in an HSA to pay for out-of-pocket medical expenses, including:

  • Doctor and dentist visits
  • Prescriptions
  • Transportation to receive medical care
  • Qualified long-term care premiums
  • Health premiums when you are unemployed or over age 65
  • Hearing aids, eyeglasses and LASIK

For a complete list, visit

The following information applies for the year 2019:

High-deductible plan requirements

  • Single coverage: $1,350 minimum annual deductible2, $6,750 maximum out-of-pocket expenses3
  • Family coverage: $2,700 minimum annual deductible2, $13,500 maximum out-of-pocket expenses3

Annual deductible contribution limits:

  • Single coverage: $3,500 ($4,500 if age 55 or over4)
  • Family coverage: $7,000 ( $8,000 if age 55 or over4)

Your interest rate will be determined by your balance:

  • Under $1,000 
  • $1,000-$4,999.99
  • $5,000-$9,999.99
  • $10,000+

View Rates.

Contact us today for more information.

  • 1 Consult your tax advisor.
  • 2 Preventative care need not be subject to the minimum annual deductible.
  • 3 The limit for maximum out-of-pocket expenses includes deductibles, co-payments and other amounts, but not premiums.
  • 4 Available to clients who attain age 55 before the close of the taxable year.
  • See Account Disclosures for additional details.

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