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Health Savings Account

What is a Health Savings Account (“HSA”)?

A Health Savings Account is an alternative to traditional health insurance; it is a savings product that offers a different way for consumers to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-advantaged basis.

You must be covered by a High Deductible Health Plan (HDHP) to be able to take advantage of HSAs. An HDHP generally costs less than what traditional health care coverage costs, so the money that you save on insurance can therefore be put into the Health Savings Account.

You own and you control the money in your HSA. Decisions on how to spend the money are made by you without relying on a third party or a health insurer. You will also decide what types of investments to make with the money in the account in order to make it grow.

Who Is Eligible?

• Individual that is covered under a high-deductible health plan or HDHP
• Individual cannot be covered under any other health plan that isn't an HDHP
• Individual not enrolled in Medicare
• Individual is not a dependent on another person's federal income tax return

We Offer:

• HSA Debit Card Account
• Mutual Fund Investments