What is a Health Savings Account
A Health Savings Account (HSA) is an account that you can put money into to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment. You must have coverage under an HSA-qualified "high deductible health plan" (HDHP) to open and contribute to an HSA. You can use the money in the account to pay for any "qualified medical expense" permitted under federal tax law. This includes most medical care and services, dental and vision care.
HSA Checking Account
- $50.00 minimum opening deposit
- Variable interest paid on principle balance, interest calculated daily, compounded and credited monthly
- No minimum balance requirement to avoid a service charge
- Debit card and check writing privileges at no charge
- No transaction or activity limitations to avoid a service charge
- 24-hour access to account information by phone or Internet