Business Simple HSA

A Simple HSA

What is a Simple Health Savings Account?

You want to give your employees tools that are easy to use and convenient. The Health Savings Account (HSA) was designed with just that in mind. It offers the features they need to conveniently pay eligible medical expenses with their HSA Debit MasterCard® and easily manage their account online, while receiving interest on the account balance. Plus, employees have access to our ATMs to reimburse themselves for qualified medical expenses with no surcharges.

There is no monthly maintenance fee in any month when a direct deposit is received or a $300 minimum balance is maintained. 

To be eligible for an HSA, the employee must participate in a qualified HDHP (High Deductible Health Plan).

View Sandy Spring Bank’s HSA rates

An HSA can only be opened in a branch or by phone 800.399.5919.

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  • Disclosure

    All references to tax savings are at a federal level. State taxes vary. Please consult your tax adviser.