Health Savings Accounts (HSA)
Savings Bank of Walpole offers Health Savings Accounts (HSAs) to help you save for current and future medical expenses in an interest bearing checking account. These accounts allow for payment of qualified expenses by debit card or check (online Bill Pay or standard check).
Account advantages include:
- Interest earnings on your funds
- Free Online Banking access to view your account and issue payments through Bill Pay
- No minimum balance requirement
- Qualifying health expenses paid from the HSA may be tax free (depending on specific state taxes)
- Unused funds remaining at year end can carry over the following year
Additional information can also be obtained by consulting your tax advisor or consulting IRS Publication 969.