It’s true — medical expenses have skyrocketed while wages have stagnated. Safeguard your health with a tax-advantaged HSA.1
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- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Competitive interest on entire balance
- Contributions are tax-free and can be made by you, your employer, or a third party
- Funds can be withdrawn at any time2
- Monthly service charge of $3 (plus tax)3
Save Smarter for Healthcare with an HSA
With our Health Savings Account (HSA), you can set aside pre-tax dollars for qualified medical expenses while enjoying competitive interest on your balance. Paired with a high-deductible health plan, our HSA helps you manage healthcare costs with greater control and flexibility. Plus, you’ll have convenient access to your funds whenever you need them.
- Contribute pre-tax dollars and enjoy tax-free withdrawals for qualified medical expenses.
- Grow your healthcare savings with interest on your entire balance.
- Manage your funds easily with free online and mobile banking.
Start saving for your healthcare needs today! Open a Health Savings Account and take control of your medical expenses.
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HSA Account Details
- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Competitive interest on entire balance
- An HSA provides triple tax savings1:
- Tax deductions when you contribute to your account
- Tax-free earnings through investment
- Tax-free withdrawals for qualified medical, dental, vision expenses, and more
- Contributions are tax-free and can be made by you, your employer, or a third party
- Funds can be withdrawn at any time2
- Monthly service charge of $3 (plus tax)3
- No minimum balance requirements
- Unused funds remain in account year after year; no "use it or lose it" policy
- Keep your HSA in your name, regardless of career or life changes
- Federally insured by FDIC
- No minimum deposit to open
Eligibility
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 contact your tax advisor for further eligibility requirements.
1 Consult a tax advisor.
2 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 However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.
3 You may avoid this charge by having other Peoples Bank relationships.
