Business Health Savings Account (HSA)
Show your employees how much you care by helping them pay for medical expenses. Our HSA offers tax advantages* and competitive interest to relieve the stress of healthcare costs.
Funds roll over year after year and the account remains in the employee's name, regardless of where they work — providing flexibility when they need it most. But with benefits like this, they'll want to stick around for a while.
- Greater personal control over healthcare management and expenses
- Prepare for qualified medical expenses
- Earn competitive interest on entire balance
- Make tax-free withdrawals for qualified medical, dental, vision expenses, and more*
- Accessibility to funds**
- Additional personal contributions may be made, tax-free
- Unused funds remain in account
- Keep your HSA in your name, regardless of career or life changes
- Free business online banking***
- Free Mastercard® business debit card
- Federally insured by FDIC
- No minimum deposit to open
- Provide great benefit to employees
- Helps retain and attract good employees
- Contributions are tax deductible*
- Reduced insurance premiums
- Little administrative burden
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.
*When used for qualified medical expenses. Consult a tax adviser. Qualified expenses include most medical care and services, dental and vision care, weight loss programs, some over the counter medications, mileage, and more.
**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 However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty tax.
***Third party data and text messaging charges and/or internet services may apply. Please contact your provider for details.