With a tax-exempt and interest bearing account just for your medical expenses, there’s no reason why you shouldn’t be saving.
The Health Savings Account works like a checking account that allows you or your business and/or employer to deposit funds. Use Health Savings checks or a free Debit Card to pay for your medical expenses. Funds not used for medical expenses become retirement funds.
Earnings are tax-deferred, contributions are tax deductible, distributions are tax-free (must be used to pay for qualified medical expenses), and contributions made by employers are not taxed as income. (Yearly contribution limits apply.) A High Deductible Health Plan is required.
- No Monthly Fee
- $25.00 Enrollment Fee*
$50.00 Minimum Opening Deposit*
*Fees and minimum deposit waived for employees of qualified business partners.