A Health Savings Account (HSA) is a tax-favored savings for individuals and families covered by high deductible health insurance plans (HDHP). 

Benefits of opening an HSA: 

• Tax savings – tax-deductible contributions, tax-deferred earnings, tax-free withdrawals (if used properly) 
• Flexible – pay for current medical expenses or save for future ones 
• Funds in the HSA grow tax-free and carry over year after year 
• The HSA stays with you, regardless of change in coverage or employment 

To be eligible for an HSA, you must meet the following requirements: 

• Be enrolled in a qualified high deductible health plan (HDHP)   
• Not be covered by another non-HDHP (with limited exceptions) 
• Not enrolled in Medicare 
• Not eligible to be claimed as a dependent on another person’s tax return 

Please contact us or visit your local branch for more information or to open a Health Savings Account.