It’s easy to open a FREE SBW Health Savings Account (HSA)
If you have a high-deductible health insurance plan, you should also have a Health Savings Account (HSA). With an HSA, your employer is able to deduct a pretax dollar amount you specify and it’s directly deposited into your HSA account.* If you withdraw money from your account, it is not subject to federal income tax as long you use it to pay for qualified medical expenses. And, the funds roll over and accumulate year-to-year. Here are just some benefits you’ll enjoy when you open an HSA at Savings Bank of Walpole:
- Interest earnings on your funds
- Free online banking access to view your account and issue automatic payments through bill pay
- Free debit card
- No minimum balance requirement
You can open an HSA at any time – and, like a 401(k) or IRA, your HSA can be transferred from job to job or institution to institution.
Consult your tax advisor for more information on how an HSA may benefit you.
For more information give us a call at (603) 352-1822 or you can also schedule an appointment by clicking below.
*Annual contribution limits apply.