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Health Savings Accounts

Where Physical and Financial Health Meet

Health Savings Accounts (HSAs) let you set aside money on a pre-tax basis to pay for qualified medical expenses, such as deductibles, copayments and coinsurance.

Our HSA features include:

  • These are tax-advantaged health savings accounts.
  • They are interest-bearing accounts.
  • You can choose between eStatements or paper statements.

Are you eligible? 

Guidelines are subject to change, consult a financial advisor to discuss your specific situation.

Per the IRS, the following requirements determine eligibility:

  • You must be covered under a qualifying high-deductible health plan (HDHP) on the first day of the month.
  • You have no other health coverage except what is permitted by the IRS.
  • You are not enrolled in Medicare, TRICARE or TRICARE for Life.
  • You can’t be claimed as a dependent on someone else’s tax return.
  • You haven’t received Veterans Affairs (VA) benefits within the past three months, except for preventive care. If you have a disability rating from the VA, this exclusion doesn’t apply.
  • You do not have a health care flexible spending account (FSA) or health reimbursement account (HRA). Alternative plan designs, such as a limited-purpose FSA or HRA, might be permitted.

Other restrictions and exceptions may also apply.

What’s a high-deductible health plan?

The IRS defines a qualifying high-deductible health plan as having:

2020:

  • A minimum annual deductible of $1,400 individual/$2,800 family
  • An out-of-pocket maximum of $6,900 individual/$13,800 family

2021:

  • A minimum annual deductible of $1,400 individual/$2,800 family
  • An out-of-pocket maximum of $7,000 individual/$14,000 family

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All rates quoted as Annual Percentage Yield (APY) and subject to change without notice.

Health Savings Accounts

Comparison table of Health Savings Accounts
Product Min. to Open APY*
Health Savings Accounts $0 0.010%
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