Individuals with a High-Deductible Health Plan (HDHP) can qualify for a Health Savings Account. An HSA has built-in tax benefits that enable easy planning for your healthcare needs. With a minimal $15 annual fee, an HSA allows account owners to:
- Pay for current and save for future healthcare expenses
- Make tax-deductible* contributions (or pre-taxed, if contributions are made through a payroll deduction)
- Earn tax-free interest**
- Access free online and mobile banking
- Receive a free HSA CheckCard
The Internal Revenue Service has outlined the following contribution limits for 2017:
- Individual plans: $3,400
- Family plans: $6,750
Visit IRS.gov to verify and review contribution limits, which change annually.
The IRS published allowable HSA withdrawals, which should be verifed on IRS.gov and reviewed with your tax advisor. Customers are responsible for reporting withdrawals to the IRS.
You might be eligible for an HSA through your employer. Contact your human resources department for more information.
Overdraft protection services are not available on this account.
*Always consult a tax specialist or the IRS to verify tax-deductible scenarios.
**Rates and Annual Percentage Yields are paid based on your balances. You begin earning interest at $100. For Health Savings Account rates, call 888.762.4762.