Health Savings Accounts that Make Sense

Health Savings Accounts that Make Sense

Looking to help address healthcare expenses?

Families wanting to save on healthcare expenses should consider a tax-advantaged HSA. With money-saving features and special tax benefits,* these accounts are completely portable and let you maintain control.

HSA

Balance APY*
> $0 1.50%

Frequently Asked Questions

HSAs offer tax-advantaged contributions, tax-deferred earnings, tax-free withdrawals for qualified medical expenses, year-to-year rollover of funds, and portability, even if you change jobs or health plans.

You are eligible if you are covered by a qualifying HDHP, are not enrolled in Medicare, are not covered by another non-HDHP, and are not claimed as a dependent on another person’s tax return.

Qualified medical expenses include many healthcare costs such as doctor visits, prescriptions, dental care, vision care, and other expenses defined by the IRS.

Contributions may be tax-deductible, earnings grow tax-deferred, and withdrawals used for qualified medical expenses are typically tax-free.

No. Unused funds remain in your account year after year and can continue to grow.

HSA funds can be used to pay for qualified medical expenses, including eligible healthcare services, prescriptions, and certain over-the-counter items. Convenient services such as a debit card, checks and online bill pay may be used for HSA funds.

Your HSA remains active and fully yours even if you change employers or health insurance plans.

Earnings are generally not taxable while they remain in the account and are tax-free when used for qualified medical expenses.

Yes. Individuals aged 55 or older may make an additional annual catch-up contribution above the standard IRS limit.

Withdrawals for non-qualified expenses are generally subject to income tax and a 20% penalty unless you are age 65 or older, disabled, or deceased.

*APY = Annual Percentage Yield
Note: Before you open your account, consult your tax advisor for current IRS laws and regulations associated with these types of accounts and whether they are a suitable investment for your financial situation.

Rates Effective April 16th, 2026