Personal Health Savings
A Health Savings Account (HSA) is a savings account that works much like an IRA – except the money is intended for qualified health care costs. You can pay for current health expenses and save for future qualified medical expenses on a tax-free basis1.
Who Can Have One?
Anyone under the age of 65 who is covered by a High Deductible Health Plan (HDHP) is eligible to open a Health Savings Account.
Why should I own an HSA?
You can save money by:
Why choose United Republic Bank for your HSA?
A Health Savings Account (HSA) in conjunction with a high-deductible health plan (HDHP) is one way to lower your health care costs and ensure that when you need the money, it will be there for you. It's a tax-advantaged account that can be used to pay for day-to-day eligible medical expenses. Your HSA is also an excellent way to save for retirement as the money in your account continues to grow tax-free, year after year.
Offering a high deductible health care plan in conjunction with Health Savings Accounts to your employees can be a great way to decrease your company’s health care expenses. Add our basic Cash Management product and you can easily make contributions to your employees’ accounts on a single or reoccurring basis electronically.For more information regarding annual limits and rules governing HSA accounts, click here.
1 Consult your tax advisor to discuss your tax status.
2 See current rate sheet for tiers and rates. Variable rate may change daily and interest is compounded daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks