HSA Accounts


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
  • 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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