Health Savings Accounts
Your HSA works just like a regular checking account. You can write a check, use your Visa®Bonus Check Card (with rewards) or even use our Personal CheckFree® Bill Pay to pay for qualified medical expenses. Statements can be mailed or viewed online, and you'll receive a year-end report for tax purposes.
To open your Health Savings Account, please visit one of our branch locations.
- $100 minimum opening deposit
- $5 Monthly Service Charge
• $5 discount with any one of the following:
° Monthly Direct Deposit
° $500 average ledger balance
- Unlimited check writing
- Visa® Debit Card
- Online Banking with CheckFree® Bill Pay
- Interest bearing - tiered interest rate2
- Year-end reports
Reasons to Open a Health Savings Account
- Freedom of choice over your health care decisions
- Long-term savings
- Tax savings
- Interest earnings
A Health Savings Account (HSA) in conjunction with a high-deductible health plan (HDHP) is one way to lower your health care costs and ensure that when you need the money, it will be there for you. It's a tax-advantaged account that can be used to pay for day-to-day eligible medical expenses. Your HSA is also an excellent way to save for retirement as the money in your account continues to grow tax-free, year after year.
Offering a high deductible health care plan in conjunction with Health Savings Accounts to your employees can be a great way to decrease your company’s health care expenses. Add our basic Cash Management product and you can easily make contributions to your employees’ accounts on a single or reoccurring basis electronically.
For more information regarding annual limits and rules governing HSA accounts, click here.