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Health Savings Accounts (HSA)

An easier way to manage the cost of healthcare and gain peace of mind.

What is an HSA?

An HSA is a special tax-sheltered deposit account for those who have a “High Deductible Health Plan” (HDHP). You can save money in your HSA, and use the funds to pay for eligible healthcare expenses.

Unlike a flexible spending account, your balances carry over year to year without “use it or lose it” requirements.

HSA Benefits

  • Earns interest
  • Features tax-deductible contributions
  • You keep your contributions if you change jobs or retire
  • No minimum balance requirements
  • No monthly service charges with eStatements (Otherwise, $3.00/month)
  • Free Mastercard® debit card
  • Only $100 to open!
Open HSA - Family   Open HSA - Individual
 

Am I Eligible?

To be eligible you must be under age 65 and …
  • Enrolled in a qualified HDHP
  • Not covered under other health insurance
  • Not enrolled in Medicare
  • Not eligible to be claimed as a dependent on another individual’s tax return

2020 Contribution Limits 

For 2020, if you have an individual High Deductible Health Plan (HDHP) coverage, you can contribute up to $3,550. If you have a family HDHP coverage, you can contribute up to $7,100.


Questions? Call 888-258-6050 or stop in. We’re here to help!

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Starion Bank has many options to meet your banking needs including personal checking, savings, and loans
 

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