A Health Savings Account (HSA) is an account that allows you to save money for future medical expenses. There are certain advantages to saving money in these accounts, including favorable tax savings, earned interest, and possible savings on insurance premiums. In addition, you control the funds, they provide long-term savings, and they’re portable which means the account stays with you as you move through life’s changes.


Who Can Have an HSA?

You can open and contribute to an HSA if you:

  • Are covered under a qualified HDHP
  • Are not covered by another health plan that is NOT an HDHP (certain exceptions apply)
  • Are not enrolled in Medicare (any part)
  • Are not eligible to be claimed as a dependent on another individual’s federal income tax return

Any HSA funds used for anything other than "qualified medical expenses" are taxable as income and subject to an additional 20% tax penalty.

Download our printable HSA brochure

HSA Frequently Asked Questions


HSA Account Rates 

APY & Interest Rates Effective February 1, 2017

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Type

APY*

Interest Rate

Employee Sponsored HSAs



Employer Sponsored HSA <$500.99**

0.10 %

0.10 %

Employer Sponsored HSA $501-1,000.99**

0.20 %

0.20 %

Employer Sponsored HSA $1,001-$2,500.99**

0.30 %

0.30 %

Employer Sponsored HSA $2,500-$15,000.99**

0.50 %

0.50 %

Employer Sponsored HSA $15,001 and Above**

0.70 %

0.70 %




Individual HSAs



Individual HSA <$500.99**

0.10 %

0.10 %

Individual HSA $501-$1,000.99**

0.20 %

0.20 %

Individual HSA $1,001-$2,500.99**

0.30 %

0.30 %

Individual HSA $2,501-$15,000.99**

0.50 %

0.50 %

Individual HSA $15,001 and Above**

0.70 %

0.70 %

*APY - Annual Percentage Yield
**Variable Rate Account - The rate may change after the account is opened
Fees may reduce earnings