Health Savings Accounts
A Health Savings Account (HSA) is a tax-exempt custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses incurred by you, your spouse, and your dependents. We offer an interest-bearing checking account that puts you in control of your own health care reimbursement.
Many companies are finding it more difficult to reduce their healthcare expenses. Our HSA offers a new alternative. RSNB Bank's Health Savings Account is the right choice for businesses who offer a HSA-qualified high deductible health plan (HDHP). An HSA is a tax-exempt account that can only be used to pay qualified medical expenses.
- No minimum balance to open
- $10 annual maintenance fee
- No minimum balance to earn interest
- Non-qualified withdrawals may be subject to IRS tax penalties
- Deposits allowed at any time (must be within IRS limits)
- HSA funds are easily accessible with a free Visa® Debit Card
Certain federal guidelines must be met to qualify for this account. Federal tax benefits are determined by IRS rules. Check with your tax advisor for state rules regarding HSAs.