Health Savings Accounts (HSAs)

• Greater personal control over healthcare management and expenses
• Prepare for qualified medical expenses
• An HSA provides triple tax savings:
  • Tax deductions when you contribute to your account
  • Tax-free earnings through investment
  • Tax-free withdrawals for qualified medical, dental, vision expenses, and more*
• Contributions are tax-free and can be made by you, your employer, or a third party

HSA CHECKING

• $100 minimum deposit to open
• Avoid the $2 monthly service charge by maintaining a daily minimum balance of $2,000
  • Monthly service charge is waived for the first 2 years the account is open
• Keep your HSA in your name, regardless of career or life changes
• Earn interest above standard savings on entire balance
• Unused funds remain in account year after year; no "use it or lose it" policy
• Funds can be withdrawn at any time**

HSA CERTIFICATES OF DEPOSIT:

• $1000 minimum deposit to open
• HSA certificates of deposit terms available: 12, 24, 36, 48, and 60 months
• Early withdrawls subject to penalty

Eligibility

Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.

*Consult a tax advisor.

**You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.