What is an HSA?
A Health Savings Account (HSA) is a checking account that is used in conjunction with your High Deductible Health Plan (HDHP). The HSA account is an interest bearing account and our competitive rates allow your balance to grow and the earnings are tax-free. It comes with a Debit card to pay for qualified medical expenses until you reach your deductible and you can use it to pay for other expenses not covered by your insurance including (but not limited to) orthodontia, prescriptions drugs and specialists.
HSA contributions have tax advantages and are insured by the FDIC. The minimum balance to open the account is $50.
Please contact us to get a copy of the the Basics of HSA guide to learn more.
Or, visit the U.S. Treasury website here: http://www.ustreas.gov/offices/public-affairs/hsa/