Health Savings Account
Save for tomorrow's qualified medical expenses with an HSA.
What if your health and finances could work together? Keep your pocketbook in peak condition with a Health Savings Account (HSA) from Hometown Community Bank! With an HSA, you can save tax-free* today to prepare for tomorrow’s medical expenses.
A health savings account is a personal savings account specially designed for individuals with a high-deductible health plan. When funds are used for qualified medical expenses, contributions are tax-deducible*! This savings account allows you to pay for qualified medical expenses as you incur them using a Hometown Community Banks HSA Debit Card or checks. The IRS Publication 502 contains a partial list of qualified medical expenses*.
| Minimum Opening Deposit: | There is no minimum deposit to open your Health Savings Account. |
| Minimum Balance: | There is no minimum balance required. |
| Monthly Service Fees: | There is no monthly service fee; however, there is an annual fee of $25. |
| Account Requirements: | Enrolled in a High-Deductible Health Plan (HDHP), Not covered under another non-HDHP, Not enrolled in Medicare, Not eligible to be claimed as a dependent on another's individual tax return |
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