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Health Savings

A Health Savings Account is a savings account that offers tax advantages. With an HSA, you can save for medical expenses that are not covered by your health plan. 

Contact a Customer Service Representative at your local branch for more information.
  • HSA accounts have a triple tax advantage: contributions are tax-deductible, distributions from an HSA account are tax-free if used to pay for qualified medical expenses, and interest earnings grow tax-free.*
  • There are no "use it or lose it" rules for HSAs. The contributions remain in your account until you use them.
  • The account is "portable" so the account stays with you even if you change jobs.

*Consult a tax advisor for tax advice.

To be an eligible individual and qualify for an HSA contribution, you must meet the following requirements:

  • You are covered under a high deductible health plan (HDHP) and have no other health coverage (with limited exceptions).

  • You aren’t enrolled in Medicare.

  • You can’t be claimed as a dependent on someone else’s tax return.