Health Savings Account (HSA)
Core Bank offers comprehensive health savings account solutions that perfectly complement many current employee health plans. Talk to a member of our personal banking team today to learn more!
Meeting Your Health Savings Needs
If your company’s group health benefit plan is a High Deductible Health Plan (HDHP), our HSA plans can offer your employees a way to manage their contributions.
At Core Bank, we offer a streamlined way to move money from direct deposit payments directly into your HSA so that you always have money stashed away should you ever need it for routine medical care or unexpected health needs.
Benefits of Using a Core Bank Health Savings Account
- No minimum balance account option.
- Local community bank account means access and personalized service for you and your employees
- Contributions are tax-deductible, reducing the tax exposure for both employer and employee.
Who is Eligible to Participate
You are eligible for an HSA account if you meet this criteria:
- Covered under an HDHP
- Not entitled to benefits under Medicare
- Not able to be claimed as a dependent on another person’s tax return
How to Get a Health Savings Account
You can get an HSA account by visiting one of our branches or get in touch with our personal banking team today to learn more about your options for setting up an HSA solution!
How do I know if I am eligible for an HSA?
You are eligible for an HSA if your health insurance is a High Deductible Health Plan, you are not entitled to Medicare, or you can’t be claimed as a dependent on someone else’s tax return.
What are the tax benefits of an HSA?
The contributions you make on your health savings account are tax deductible, reducing the taxes for you and your employer.
What medical expenses can I use my HSA for?
You can claim a variety of medical expenses on your HSA. Some of the most commons costs are dental treatments, surgery, vision exams, doctor visits, and co-pays.