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Health Savings Account

The information provided here is general and intended to answer the most asked questions about a Health Savings Account. Since this type of savings account is the responsibility of the account owner, we urge you to seek specific information from your employer, tax advisor or accountant.

A Health Savings Account (HSA) is a tax-advantaged medical savings account that you own. It is a great way for individuals and families to help cover the cost of medical and health-care expenses.

How can a HSA benefit me?

  • No administrative fee
  • Dividends earned grow tax-free
  • Reduced income tax liability
  • Supplements your High Deductible Health Plan (HDHP)
  • Pays for qualified medical expenses
  • Open with a low minimum of only $50
  • Tiered interest rates reward your long term savings program
  • Easy access to funds with HSA checks or an HSA debit card
  • The money belongs to you as an employee. If you change jobs or move, the money stays in your account and goes with you to use on qualified medical expenses.

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