Health Savings Account
- This account is designed as a tool to pay current medical expenses or save for future needs.
- Contributions are generally tax deductible.
- Withdrawals are tax-free if the money is used to pay qualified medical expenses as permitted under federal law.
- HSA Eligibility Requirements:
- Copy of health insurance declaration page or card indicating coverage under a high deductible health plan. (HDHP)
- Cannot be covered by another health plan. (with limited exceptions)
- Cannot be enrolled in Medicare.
- Cannot be eligible to be claimed as a dependent on another person’s tax return.
- Minimum amount to open: $25.00.
- One time set up fee: $10.00.
- Service Charge: $3.00 per month if balance falls below $2,500.
- $7.00 per month fee for paper statement.
- Free E-Statements.
- Free Debit MasterCard®
- Free Internet Banking.
- Free Bill Pay.
- If checks are desired, first order of 50 checks are free.
- Additional service charges and miscellaneous fees may be applicable. View Schedule of Fees.
On all deposit accounts there may be additional service charges and miscellaneous fees applicable. .
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