Adult and child sitting on tailgate of truck

Health Savings Account (HSA)

With a Health Savings Account, you can save for medical expenses by depositing funds into an interest-bearing account, and deduct the contributions on your tax return. There is no deadline for when you have to spend the money. You can roll over the funds each year and use them when you need them.

With this account, you can make tax deductible contributions and use the funds to pay for medical expenses for you, your spouse and your dependents. Covered medical expenses include prescriptions, doctor visits, dental and vision expenses.

  • Digital Banking
  • Mobile Deposit
  • e-Statements or paper statements
  • Greater personal control over healthcare management and expenses 
  • Prepare for qualified medical expenses 
  • Earn interest above standard savings on entire balance (see rates)
  • 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 more1 
  • Contributions are tax-free and can be made by you, your employer, or a third party 
  • Funds can be withdrawn at any time2 
  • Unused funds remain in account year after year; no "use it or lose it" policy 
  • Keep your HSA in your name, regardless of career or life changes 
  • Federally insured by FDIC 
  • Minimum of $1000 to open
  • Free e-Statements or paper statements
  • 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.
  • $1000 minimum deposit to open 
  • Free / No service fee

1Consult a tax advisor.

2You 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 However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.