HEALTH SAVINGS ACCOUNT
A Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses for individuals with high deductible health plans. The funds can be used for your personal qualified medical expenses and those of your spouse and your dependents.
- Requires an opening balance of $100
- $2 monthly fee
- Interest is calculated using the daily balance method and is credited to your account monthly
- You are allowed 6 free debits per month; $0.50 per additional withdrawal