Health Savings Accounts (HSAs)
With the rising costs of health care, you need to be prepared. An HSA allows you to put away pre-tax* money for approved medical expenses. Plus, you earn tax-free* dividends, with some of the most competitive rates in Southwest Ohio.
Both you and your employer can contribute, and the funds automatically roll over year to year. Plus, you get peace of mind knowing you'll have the means to keep you and your family healthy and safe. Talk to our experts today!
- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Earn dividends above standard savings on entire balance
- Receive higher rates on larger deposits
- 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 more*
- Contributions are tax-free and can be made by you, your employer, or a third party
- Funds can be withdrawn at any time**
- No monthly service fee
- No minimum balance requirements
- 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
- $5 minimum deposit to open
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.
Visit our HSA Service Center to learn more.
*Consult a tax advisor.
**You 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 However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 20% penalty.