The funds you deposit to an HSA are kept in an account separate from your other checking or savings accounts. You can add funds to your HSA once a year, monthly, weekly, or whenever you want. When you need the funds for medical expenses you can draw from the account by using an HSA debit card.

The funds in your HSA don’t have to be used in the same year you contribute them. They remain in your account, earning interest, until needed for medical expenses. After age 65, distributions used for non-qualified medical expenses will be subject to income tax.

An HSA is owned by you, not your employer. This means that if you change employers you may keep your HSA with you. We can even help set up automatic transfers into your HSA.

An HSA allows you to save money in a tax-deferred manner to pay for qualified medical expenses not covered by your health insurance plan.

• For yearly individual, family and additional contribution limits please visit www.irs.gov or contact us by phone or e-mail

What are the qualifications for opening a Health Savings Account?

• have a high-deductible health plan (HDHP)
• are not eligible for Medicare
• are not claimed as a dependent on someone else’s tax return

Restrictions do apply so please Contact Us about eligibility.

What determines if I have a High Deductible Health Plan (HDHP)?

• please review individual or family coverage specifics at www.irs.gov or contact us for additional questions

How often can I draw funds from my HSA?

• As often as you want! You are limited only by the amount in your HSA.

What is a qualified medical expense?

• Qualifying medical expenses may include, but are not limited to, doctor visits, prescriptions, dental and vision care. For more specifics on qualified medical expenses you can use your HSA funds on please search IRS.gov.