Here is some information to get you started:

- An HSA is an interest-bearing savings account that qualifying individuals can use to help pay their share of health expenses. You can open an HSA account at any Crossroads Bank office.

- You must be younger than 65 years of age to open an HSA. Medicare enrollees are not eligible.

- Individuals who are over 55 and not enrolled in Medicare may make catch-up contributions to their HSA account. Ask about current catch-up contribution amounts.

- Funds you contribute to your HSA account are tax-deductible* and earn interest on a tax-free basis.

- Withdrawals are tax-free if they are used for qualifying medical expenses. For example, you can use funds in your HSA account to cover your deductible or pay the 30% out-of-pocket costs you would be responsible for in a 70-30 benefit plan.

- Any unused funds can be rolled over until they are needed.

*Consult your tax advisor about your specific tax situation.

Rate Information

Tier 1—If your daily balance is more than $50.00, but less than $5,000.00, the interest rate paid on the entire balance in your account will be 1.49% with an annual percentage yield of 1.50%.

Tier 2—If your daily balance is more than $4,999.99, but less than $14,999.99, the interest rate paid on the entire balance in your account will be 2.00% with an annual percentage yield of 2.02%.

Tier 3—If your daily balance is $15,000.00 or more, the interest paid on the entire balance in your account will be 3.00% with an annual percentage yield of 3.03%.

Health Savings Account Service Fees
Enrollment Fee $0
Monthly Maintenance Fee $0
Closing Account Fee $25.00