An HSA can only be opened in a branch or by phone, 800.399.5919.
*All references to tax savings are at a federal level. State taxes vary. Please consult your tax adviser.
Business Health Savings Accounts
What is a Health Savings Account (HSA)?
You want to give your employees the best benefits. Here’s an easy and flexible way you can help your employees save money for medical expenses and reduce their taxable income if you offer and they participate in a qualified high deductible health plan.
A Health Savings Account (HSA) is a tax-advantaged* savings plan that is owned by an individual. Contributions are made by the individual on a pre-tax basis, and may be used to pay for current and future medical expenses. There are no restrictions on who may contribute to your HSA. Therefore, the individual, the employer, or any other person can make an HSA contribution on individual’s behalf.
Why Use an HSA?
Employers and employees alike appreciate this easy and valuable health plan option. Find out why:
What you need to know:
- It’s a valuable benefit program.
- There’s no ongoing plan oversight or additional legal expenses.
- We provide all required disclosures.
- We handle all tax reporting.
- It’s easy to implement.
What your employees need to know:
- They’ll benefit from substantial tax savings.
- There are competitive rates.
- Use a HSA Debit MasterCard®.
- Get free online access to account information and electronic statements.
- Get free telephone support.
- There are no monthly maintenance fees with ACH Direct Deposit or when a $300 minimum daily balance is maintained.
- There’s an initial setup fee of $18.