Health Savings Accounts

Create an emergency fund for medical expense with an HSA

Medical emergencies are the worst kind of surprise. Not only are you or a loved one in physical and emotional pain, but your finances come under strain as well. Health savings accounts, or HSAs, from State Bank give you a tax-sheltered place to save and grow your money for medical & healthcare costs.

How does an HSA work?

A health savings account is used in conjunction with a high-deductible health plan (HDHP). You can make contributions individually. Contributions can also come through your employer if they offer this service.

It is used just like a checking account. When you have to pay for medical expenses, you use a check or debit card connected to your HSA. Statements can be mailed or viewed online, and you’ll receive a year-end report for tax purposes.

What are the benefits of an HSA?

HSAs are more than just another savings account. They provide for:

• Long-term savings
• Tax savings
• Interest savings
• Freedom of choice with your healthcare decisions
• Portability - your HSA stays with you even if you change jobs

Open your HSA with State Bank today! You can also learn more about the health savings accounts we offer going to our HSA education center.