Health Savings Accounts
A tax-advantaged way to set money aside for qualified healthcare expenses.
Smart Savings for Healthcare
A health savings account (HSA) works alongside a qualified health insurance plan to help you set aside funds for eligible healthcare expenses in a tax-advantaged way.
HSA-qualified health plans typically have lower premiums than traditional plans, allowing you to direct the savings into an HSA. Consult your tax advisor for your state’s tax rules and your specific situation.
Tax-free Contributions and Earnings
Tax-free Withdrawals
Simple, Predictable Fees
Additional HSA Benefits
- Only $50 to open
- Free HSA debit card and checks
- Online and mobile banking access for 24/7 account management
- $10 setup fee
- No minimum balance requirement
Frequently Asked Questions
Who is eligible for an HSA?
- Those who are:
- Covered by an HSA-qualified health plan and have no other health coverage, such as a secondary health plan.
- Are not claimed as a dependent on another person’s tax return.
How much can I contribute?
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For 2026, the annual maximum contribution is $4,400 for an individual and $8,750 for a family. (Subject to IRS limits.)
Can I make a catch-up contribution?
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If you are 55 or older, you can contribute an extra $1,000 annually.
What happens if I use my funds for non-qualified medical expenses?
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Non-qualified withdrawals by individuals under age 65 are taxable and subject to a 20% tax penalty. On or after age 65, or upon death, non-qualified withdrawals are taxable; however, there is no additional tax penalty.
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