Health Savings Accounts (HSA)

Health Savings Accounts (HSA)

  • Easy to access funds
  • Use on medical expenses
  • Free Redi-Net Banking
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Summary

Make sure the next time you're under the weather, you can afford to get treatment with an HSA.

Contributions to an HSA are fully deductible. Use it on medical expenses when you or someone in your family gets sick or injured. Distributions for qualified medical expenses are tax free.

  • No opening or annual fees
  • Easy to access fund with Redi-Check Debit Card
  • Free Email Statements
  • Free Redi-Net Banking
  • Use it for any approved medical expense
Eligibility

You are eligible to make or receive an HSA regular contribution if, with respect to any month, you:

  • Are covered under a high-deductible health plan (HDHP) on the first day of the month; Are not also covered by any other health plan that is not an HDHP (with certain) exceptions for plans providing preventive care and limited types of permitted insurance and permitted coverage);
  • Are not enrolled in Medicare; and
  • Cannot be claimed as a dependent on another person's tax return.