Health Savings Account will help you save money on health care expenses.

What is a Health Savings Account?

The concept of Health Savings Account (HSA) combines a high deductible health plan (HDHP) and a tax favored health savings account (HSA). A Health Savings Account is a tax-exempt account that accumulates funds to pay for your medical expenses. They were created in response to the rising cost of health care. The intent of the legislation is to give consumer’s control of their health care costs. HSAs provide tax reductions while having affordable health insurance premiums.

What are the Benefits of an HSA?

• Contributions are 100% tax deductible

• You choose when to make your contributions and how to invest it

• Contributions to your HSA by your employer are excluded from your gross income

• Funds rollover from year to year

• The interest or other earnings on the assets in the account are tax deferred

• Funds can be used at any time for qualified medical expenses tax-free.

Opening Your HSA:
HSAs work just like your normal checking account. Contributions are as easy as making a deposit, and paying medical expenses as easy as writing a check or using your debit card. You will also receive a monthly statement showing your transactions or you can view your transactions online for easy record keeping.

How Can I Invest?
You have a choice from a variety of our interest-bearing bank accounts, or you can choose to self-direct your funds with one of our investment representatives.