Lower your taxes. Earn interest. Save for your health. A Health Savings Account from Crossroads Bank is a smart way to supplement a high-deductible health insurance plan.
Here is some information to get you started: - An HSA is an interest-bearing savings account that qualifying individuals can use to help pay their share of health expenses. You can open an HSA account at any Crossroads Bank office.
- You must be younger than 65 years of age to open an HSA. Medicare enrollees are not eligible.
- Individuals who are over 55 and not enrolled in Medicare may make catch-up contributions to their HSA account. Ask about current catch-up contribution amounts.
- Funds you contribute to your HSA account are tax-deductible* and earn interest on a tax-free basis.
- Withdrawals are tax-free if they are used for qualifying medical expenses. For example, you can use funds in your HSA account to cover your deductible or pay the 30% out-of-pocket costs you would be responsible for in a 70-30 benefit plan.
- Any unused funds can be rolled over until they are needed. *Consult your tax advisor about your specific tax situation. Rate Information Interest is paid based on a tiered schedule. Please call your banker for current rates. Health Savings Account Service Fees
Enrollment Fee $0
Monthly Maintenance Fee $0
Closing Account Fee $25.00 |
| |
|