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Routing #291973687
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Routing #291973687
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Health Savings Account (HSA)

A Health Savings Account (HSA) is a personal savings account designed to help those with qualified high-deductable health insurance plans in place to save money on out-of pocket medical expenses for doctor visits and prescriptions as well as dental and vision care.

Benefits Include:

No Fee

There is no fee to start your new Health Savings Account and no monthly or annual fee to maintain it.

Tax Advantage

Pretax contributions can be made to your HSA helping you save more of your hard-earned money. Any gains on money in an HSA are tax-free so you can keep 100% of any money your HSA earns, giving you more money to cover out-of-pocket medical expenses. Withdrawals are also tax free. You won’t pay taxes on money you withdraw for qualified medical expenses.

Access Your HSA Funds

You can transfer funds to your checking account to cover qualified medical costs as needed with Online Banking or Mobile Banking, or call us anytime to make a transfer.

No Year End Deadline

If you don’t use all of the money in your HSA in a given year, funds just carry over to the next year. Your HSA belongs to you, so if you leave a job or retire you can still use this account for qualified health care expenses.

Getting Started with an HSA:

  1. Determine if you are eligible for an HSA. You must have a qualifying high deductible health insurance plan. Consult your tax professional with any questions regarding your individual circumstances.
  2. Decide how much you plan to contribute to your HSA.
  3. Open your no fee HSA at any Harbor Pointe office.
  4. Contact a Member Service Representative when you are ready to receive a qualified distribution. We will transfer your requested withdrawal amount to your checking account or simply make transfers yourself in Online or Mobile Banking.
  5. Health Savings contribution limits: Refer to IRS for limits.

Contact us at 722-9242 for more information about opening up your new HSA.