Health Savings Accounts

Health Savings Account(HSA)

A Health Savings Account is an account that helps to pay for qualified medical expenses using tax-exempt funds and tax-free earnings for individuals and families with a High Deductible Health Plan.

• No minimum deposit required
• Monthly Maintenance fee of $2.50
• Free ATM/Debit Card
• Checks are available upon request
• Earns Interest
• Monthly Account Statement - Online - Free
• Monthly Account Statement – Mailed - $1.00 per month
• Unlimited Transactions
• Deposits and withdrawals are limited to those set forth by IRS guidelines.
• In the event any HSA accountholder needs an in-house withdrawal or causes a return of excess contributions or a mistaken distribution, there shall be a $20.00 special processing fee due to additional IRS reporting by the bank.
• Not everyone may qualify for an HSA.  See your tax professional and/or insurance provider for details and qualifications.

For additional information on Health Savings Accounts, please click here. Washington State Bank is not responsible for the content.

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