Health Savings Accounts (HSAs))
A smart, easy way to save for medical expenses! |
Earn 4.08% APY* |
What is a Health Savings Account (HSA)?
 An HSA combines a qualified high-deductible health plan* with a tax-sheltered savings account. Eligible individuals may contribute and easily withdraw tax-free dollars to pay for qualified medical expenses. And RiverLand HSAs have no setup or monthly maintenance fees!
Can anyone open an HSA?
If you are covered under a high deductible health plan*, are NOT covered under any other health plan, are NOT enrolled in Medicare, cannot be claimed as a dependent on someone else’s tax return, and have not been a recipient of veterans medical benefits in the previous three months, then you are eligible to establish an HSA.
What are the benefits of an HSA?
- Makes medical expenses more affordable
- Deposits are tax-free
- Withdrawals are tax-free when used for qualified medical expenses
- Investment earnings grow on a tax-favored basis
- Any unused balance may be rolled over from year to year
- It’s your money and you take it with you if you change jobs or insurance carriers
- Available to almost anyone covered under a high-deductible insurance plan
If you’re being charged fees on your Health Savings Account, transfer to a RiverLand HSA and reduce your out-of-pocket expenses!
 ...
Apply online, by phone, or visit your nearest branch. |
|
HSA Information
