HSA Accounts

HEALTH SAVINGS ACCOUNT

There when you need it.

Health Savings Accounts (HSA)

A HSA is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the account beneficiary, who is covered under a qualified high-deductible health plan (HDHP).

Health Savings Accounts (HSA)

To determine if you are eligible for a HSA, refer to your insurance agent or tax advisor; your employer may also know if you are eligible. Any individual can open an HSA if, in a given month, the individual is:

  • Covered by an HDHP on the first day of that month
  • Not covered by any other health plan that is not an HDHP
  • Not enrolled in Medicare
  • Not named as a dependent on another person’s tax return

Details of a Health Savings Account:

  • Checking Account with a Monthly Statement (Qualified Distributions & Contributions are the Account Holder’s Responsibility)
  • No Minimum Balance
  • One Time $25 Set-up Fee
  • Debit Card with Additional Account Relationships (No ATM Access)
  • Free Online Banking
  • Competitive Interest Rates*

Contact your personal banker for additional information.

* Variable rate of interest, subject to change

Additional Services

Other products and services offered by Lake Area Bank.

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    From time to time, we provide links to other websites for the use of our customers, which have been compiled from internal and external sources. By clicking “continue” below, you will be opening a new browser window and leaving our website. Although we have reviewed the website prior to creating the link, we are not responsible for the content of the site.

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    From time to time, we provide links to other websites for the use of our customers, which have been compiled from internal and external sources. By clicking “continue” below, you will be opening a new browser window and leaving our website. Although we have reviewed the website prior to creating the link, we are not responsible for the content of the site.