Health Savings Account (HSA)

People are the driving force of your small business, and offering a comprehensive health insurance plan is one of the keys to attracting and retaining the best. But the soaring cost of coverage is prohibitive for many small businesses--half of which offer no health care benefit to their employees.

At Anson Bank & Trust, we want to give our small business customers every opportunity to grow and thrive, and our new Health Savings Account (HSA) can help you do just that.

Summary

Interest bearing
Build reserves for future medical expenses or retirement
Easy access to funds for qualified expenses
Unlimited in-person withdrawals
Unlimited no fee in-network ATM transactions*
2 non-network ATM transactions at no charge*
Direct Deposit available
Online Banking
Online Statements
Telephone Banking
FDIC insured

*Other bank surcharges may apply. See "More Information" tab for more details.

What Is an HSA?

An HSA is a savings account that enables the owner to save money tax-free to cover medical expenses. It is paired with a high-deductible health plan, so you can save a significant amount on premiums and then use the savings to help fund the owner's HSA. The owner can use your HSA dollars to pay their deductible while unused dollars grow tax-free and may be withdrawn upon retirement and taxed as normal income.

Annual contributions are limited to the health plan deductible, up to a maximum of $3,100 for an individual and up to $6,250 for a family. Individuals aged 55 and over can make an additional $1,000 "catch-up" contribution.

More Information

Federal regulations require that all banks monitor activity on accounts classified as Savings Accounts. With regards to this regulation, no more than 6 (six) pre-authorized debits are allowed per statement cycle and no more than 3 (three) of which may be checks. Pre-authorized debits would include ACH debits, internet transfers, transfers to cover overdrafts, etc. Regulations allow unlimited in-person or ATM withdrawals but bank fees may apply. Please feel free to contact us should you have any questions.