HSA Checking

Health Savings Checking

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.

A Health Savings Account (HSA) is an interest-bearing checking 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.

  • Interest is paid based on a tiered schedule.
  • No monthly service fee for maintaining your Health Savings Account.
  • No enrollment fee to set up your Health Savings Account
  • Free ATM/Debit MasterCard® Card
  • 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.