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Learn More About HSAs

Regain more control of your health care dollars with a Health Savings Account (HSA).

What is an HSA?

Simply stated, an HSA is what you get when you combine a high-deductible health insurance plan and a tax-exempt savings account. They are designed to allow individuals to use pre-tax dollars to help pay for current and future medical expenses.

HSA diagram

What Are the Benefits of an HSA?

How Does It Work?

HSAs work just like a normal checking account – contributions are as easy as making a deposit and paying eligible expenses are as easy as writing a check or using your debit card. You will receive a monthly eStatement showing your transactions or login to Online Banking to view real-time account activity.

How Can I Invest?

Funds in your HSA may be invested. You may choose to visit with our investment advisors who can assist with investment options.

Why High Deductible Insurance?

To get the benefits of an HSA, the law requires that the savings account be combined with a high deductible health insurance plan. High deductible health insurance plans reduce your monthly health care premiums.

Contributing to an Health Savings Account

Contributing to an HSA is easy – and it comes with some great tax advantages.

Who Can Contribute?

Tax Advantages:

Contributions Are:

How to Make Contributions:

Spending Your HSA

Spending the money you've accumulated in your HSA is as simple as using Online Bill Pay or swiping your debit card – but to take full advantage of the benefits, there are some things you should know.

HSA funds are payable on demand. There are no restrictions on when or how you may take distributions. However, to fully recognize the tax advantages, funds must be used for qualified medical expenses.

The IRS requires that an HSA be an individual account. If you would like another person to have a debit card, you may name them as an authorized signer.

What Happens to Unused HSA Funds?

What Happens When I Reach Age 65?

As of age 65, funds can continue to be used for eligible medical expenses tax-free. You may also use the funds for non-eligible expenses and you are only subject to ordinary income tax without any IRS penalty.

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