Checking

Health Savings Account Checking

Have a high deductible plan? Enroll in our HSA Checking account to take advantage of tax-free savings for current and future medical expenses.

Details

  • No minimum to open
  • No monthly maintenance fee
  • Unlimited check writing
  • Free eStatement ($6 for paper statement)
  • Up to 2 free debit cards per account
  • Free online banking, online bill pay and mobile banking

Interest Rates and Tiers

  • 0.05% APY1paid on balances from $1 to $999
  • 0.10% APY1 paid on balances from $1,000 to $4,999
  • 0.15% APY1 paid on balances from $5,000 to $14,999
  • 0.20% APY1 paid on balances from $15,000 to $49,999
  • 0.25% APY1 paid on balances of $50,000 or more

Benefits

  • Contributions are tax deductible
  • Account earnings and withdrawals used to pay for qualified medical expenses are not taxed
  • Money put into an HSA can accumulate from year to year
  • Money in the account can be used to pay for medical expenses for the account holder, his or her spouse or dependent children even if they are not covered under the high deductible health plan

Qualifications

  • Must have a qualified high-deductible health plan
  • No other first-dollar medical coverage is allowed although supplemental insurance is permitted
  • Cannot be enrolled in Medicare
  • Cannot be claimed as a dependent on a tax return

Maximum Contributions

  • $3,300 for 2014/$3,350 for 2015 if you have individual coverage
  • $6,550 for 2014/$6,650 for 2015 if you have family coverage

Individuals age 55 and older can also make a $1,000 catch-up contribution. In order to contribute the catch-up contribution individuals must have their own HSA (an individual may not put a catch-up contribution in an HSA titled in a spouse’s name).

Qualified Medical Expenses

An individual can use the money in the account to pay for any qualified medical expense permitted under federal law (See IRS Publication 502), including:

  • Medical care and services
  • Dental and vision care
  • Over-the-counter medications that are covered with a doctor’s prescription

Drop in one of our branch locations or call our One Call Center at (888) 522-2265 for more information or to open an account. Or, just apply now:


1APY = Annual Percentage Yield. Quoted APY is accurate as of April 21, 2015. APY may be changed at any time without prior notice. Fees may reduce earnings. For more information call (888) 522-2265.

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