A simple way to save for health expenses.
Health Savings Account (HSA)
Earn:
0.04 % APY2
Open for only:
$25
Unlock the power of tax-exempt savings as you prepare for current or future medical expenses. Get started today.
Health Savings Account (HSA)
| Feature | Details |
|---|---|
| Earns Interest2: | Yes |
| Minimum Balance: | $0 |
| Annual Fee: | N/A |
| Self-Only Contribution Limit: | $4,150 |
| Family Contribution Limit: | $8,300 |
| 55+ "Catch Up": |
$1,000 |
Please Note:
- Only withdrawals for qualified medical expenses are tax-free
- Expenses paid out of a non-HSA source are reimbursable up to the HSA balance
- Non-medical expenses are taxable and can be penalized
- Keep all receipts in case you're audited by the IRS
2Annual percentage Yield (APY) – Interest Rate, tiered or un-tiered, is variable and may change without notice. Tiers are as follows: $0-$2,499; $2,500-$9,999; $10,000-$24,999; $25,000-$49,999; $50,000+
More Ways To Save
Looking for more savings account options? Click the button below to see all Great Southern Bank has to offer to maximize your savings.
Good-To-Know HSA Details
How Does An HSA Work?
The amount you pay into an HSA comes out of your paycheck before taxes. You can change this amount at any time. Employees, employers, spouses, parents, children and friends can contribute to an HSA.
How Can I Use The Money?
- Medical, dental and vision expenses
- Medications and prescriptions
- Long-term insurance
- Health insurance while receiving unemployment benefits
- Pay your qualified expenses with a HSA debit card, through online BillPay, or through the reimbursement option
More Great Banking Options
Discover even more tailored account options and tools designed to fit you:
1. Consult a tax advisor regarding tax deductibility or for more information related to tax filing
2. Annual percentage Yield (APY) – Interest Rate, tiered or un-tiered, is variable and may change without notice. Tiers are as follows: $0-$2,499; $2,500-$9,999; $10,000-$24,999; $25,000-$49,999; $50,000+
