Health Savings Account (HSA)

Save for medical expenses.

Health Savings Accounts are a great savings tool to help you pay for current and future eligible medical expenses. If you’re enrolled in a High Deductible Health Plan (HDHP), you’re most likely eligible for a Health Savings Account (HSA).

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Account Details

Here’s what you can expect:

  • No monthly service fee.
  • No minimum balance requirement.
  • Earn a competitive interest rate.¹
  • $1 minimum deposit to open.

Use our reach your HSA goal calculator > to make sure you’re saving enough.


How does an HSA work?

HSA contributions are tax-free² and can be made by you, your employer, or a third party. An HSA is not a use-it-or-lose it deal. Any money left in your HSA at the end of the year is yours to keep, year after year, with no limits. You decide when to spend and when to save. Funds in your HSA stay with you even if you change jobs, lose your job, change insurance plans, or retire. Your money grows tax-deferred and you don’t pay any taxes on the interest or earnings on the funds in your HSA. Your withdrawals are tax-free as long as you use them for eligible expenses, even if you’re retired. So if you use the funds in your HSA for qualified medical, vision, or dental bills, you don’t owe any tax on that money.³

Contribution Limits

The IRS set’s HSA contribution limits annually.

2023 HSA Contribution Limit (employer + employee)

Self-Only: $3,850

Family: $7,750

2024 HSA Contribution Limit (employer + employee)

Self-Only: $4,150

Family: $8,300

Eligibility Requirement

Your responsibility:

Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please consult with your employer, insurance provider, or accountant to confirm eligibility.


This account comes with these EXTRA features:

Don’t forget to enroll to receive free online statements - log in to online banking get started.


1 Current interest rates are available upon request and are subject to change daily.

2 The amount you save in taxes with an HSA will vary depending on the amount you set aside in your HSA, your annual earnings, whether or not you pay Social Security taxes, the number of exemptions and deductions you claim on your tax return(s), your tax bracket, and your state and local tax regulations. Consult with your tax advisor for information on how your participation in an HSA will impact your savings. This is intended only as an overview of some of the benefits of an HSA.

3 You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 20% penalty.

4Enroll within online banking.