Skip to content

Don't let healthcare costs spiral out of control — take charge with a tax-advantaged* HSA.

Key Features

  • Competitive Dividends
  • No Monthly Service Charges
  • Free Digital Banking
  • Greater personal control over healthcare management and expenses
  • Prepare for qualified medical expenses
  • Earn interest above standard savings on entire balance
  • Receive higher rates on larger deposits
  • An HSA provides triple tax savings:
    • Tax deductions when you contribute to your account
    • Tax-free earnings through investment
    • Tax-free withdrawals for qualified medical, dental, vision expenses, and more1
  • Contributions are tax-free and can be made by you, your employer, or a third party
  • Funds can be withdrawn at any time2
  • No monthly service fee
  • No minimum balance requirements
  • Unused funds remain in account year after year; no "use it or lose it" policy
  • Keep your HSA in your name, regardless of career or life changes
  • Federally insured

1Consult a tax advisor.

2You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.

Tax-deductible contributions and tax-free distributions. The best of both worlds is possible with a health savings account (HSA).

An HSA not only helps you get a handle on rising health care costs, but provides a tax-advantaged way to save.

Before you launch your HSA, take a look at your health insurance coverage. To contribute, you must be covered under an HSA-eligible high deductible health plan (HDHP). An HDHP generally requires that you pay out of pocket for medical expenses incurred (excluding certain preventive care expenses) until your deductible is met. Plan coverage kicks in after that. An HDHP may be HSA-eligible if it satisfies the IRS’ annual deductible and out-of-pocket expense limits. But the rules that define an HSA-eligible HDHP can be complicated so check with your insurance provider or employer to see if your health plan is HSA-eligible.

In addition to having HSA-eligible HDHP coverage, you

  • Cannot be covered by another health plan (with limited expectations),
  • Cannot be enrolled in Medicare, and
  • Cannot be eligible to be claimed as a dependent on another person’s tax return.

HSA eligibility is determined as of the first day of each month.

High Deductible Health Plan Limits1

Type Year Self-Only Coverage Family Coverage
Minimum annual deductible 2017
2018
$1,300
$1,350
$2,600
$2,700
Maximum out-of-pocket expenses 2017
2018
$6,550
$6,650
$13,100
$13,300 

Note: Self-only coverage covers only an individual. Family coverage covers an individual plus one or more dependents.

As long as you don’t go over the limits that apply to your type of insurance coverage, you can contribute as much as you want, as often as you want throughout the year until your tax return due date (generally April 15 of the following year). In fact, anyone can contribute for you, even your employer.

HSA Contribution Limits1

Year Self-Only Coverage If age 55 or Older Family Coverage If age 55 or older
2017 $3,400 $4,400 $6,750 $7,750
2018 $3,450 $4,450 $6,850 $7,850

As your HSA contributions take off, don’t forget about that tax deduction. As long as you cannot be claimed as a dependent on another person’s tax return, you can deduct your HSA contributions (except those made by your employer).

When it’s time to take money out of your HSA, prepare for a smooth landing without tax or penalty. Simply use the money for qualified medical expenses.l This generally includes most medical, dental, and vision care expenses that are incurred by either you, your spouse, or any dependents.

HSA distributions not used for qualified medical expenses are subject to ordinary income tax and, if taken before age 65, a 20 percent IRS penalty tax (unless the distribution is because of death or disability).

Be sure to consult with a competent tax advisor regarding your HSA deductions and how to claim tax-free HSA distributions.

1There limits are subject to annual cost-of-living adjustments.

*Consult a tax advisor.

Lighting the way to financial well-being

News & Events

Promotions, special events, and useful information — it's all here.

Member Benefits

This is how we pay it forward — awesome benefits that make banking better.

Become a Member

Live, work, or worship in our community? You're all set to join today.