Health Savings Accounts
Health savings accounts (HSAs) are personal savings accounts for money used to pay health care expenses. You own and control the money in your HSA and the money you deposit into the account is not taxed. To be eligible to open an HSA, you must have a special type of health insurance called a high-deductible plan. Health savings plans allow you to decide how much money you set aside for health care costs. Any unused money at the end of the year rolls over and remains available for use in future years.
So…how can CornerBank help?
Health Savings Account basics:
- Minimum Opening Deposit: $100
- Minimum balance to avoid a fee is $100. $5 monthly fee for balances under $100
- Write up to 10 checks per month. $5 fee for each additional item
- Debit card. Annual fee may apply
- eStatements available
- $25 set-up fee
- $25 closing fee
- $25 excess contribution reversal fee
To learn more about opening an HSA, contact a CornerBank Personal Banker at the location nearest you or call 620.221.1650 or 800.408.9273.