Health Savings Account

When it comes to health care, nobody likes surprises. With an HSA, you'll be better prepared for the unexpected because every dollar you put in is tax-free1 and rolls over year-to-year — giving you more control over medical expenses.

Manage Increasing Health Care Costs

If you have a high-deductible health plan (HDHP), you can set aside funds tax-free1 in an HSA to pay medical expenses. Unlike a flexible spending account, you don't lose money if you don't 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 convenient payment method
  • Unlimited check writing

HSA Eligibility

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

  • Not enrolled in Medicare
  • Not claimed as a dependent on another’s tax return
  • Don't have additional health coverage that isn’t a qualified HDHP
  • Are covered by an HSA-eligible HDHP

Qualified Medical Expenses

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 www.irs.gov.

HSA Plan Requirements and Limits

The following information applies for the year 2019:

Balance-based interest rates

Your interest rate will be determined by your balance. Interest Rates and Annual Percentage Yields are accurate as of [12/3/2018]. Rates may change without notice. Fees may reduce earnings and interest rate may change after account is opened.

  • 1

    Consult a 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.