A Health Savings Account (HSA) is an account that you can put money into to save for future medical expenses. HSAs have many advantages, including flexibility, portability and triple tax savings*. Any adult can contribute to an HSA if they:

• Have coverage under an HSA-qualified “high deductible health plan” (HDHP)
• Have no other first dollar medical coverage
• Are not enrolled in Medicare
• Cannot be claimed as a dependent on someone else’s tax return

The Home Loan Savings Bank’s HSA accounts are designed to help you grow your account through investment earnings. Our HSA has no monthly service fee, earns interest on balances over $500.00, and your first order of checks is free. In addtion, our HSA provides very flexible options such as a debit card and free online access via our robust Online Banking system.
 
Need more information about HSAs?
 
The Department of the Treasury web site has additional information about Health Savings Accounts, including answers to frequently asked questions, related IRS forms and publications, technical guidance, and links to other helpful web sites. Treasury’s HSA website can be found at http://www.treas.gov/offices/public-affairs/hsa/ .
 
*Please consult your tax advisor for more information.