What is a Health Savings Account?

If you have a high deductible health plan (HDHP), you may be eligible for a United Bank Health Savings Account. An HSA is a special account owned by an individual which allows you to pay for current out-of-pocket health expenses and save for future qualified medical and retirement expenses on a tax-advantaged basis. Your money in the account rolls from year to year because there is no "use it or lose it" penalty. United Bank HSAs are FDIC insured and earn a very competitive interest rate. For a list of Insurance Agents offering HDHPs click here.

Common Questions:

click for answer Who can participate in an HSA?
click for answer What is a high deductible health plan (HDHP)?
click for answer How do you contribute to an HSA?
click for answer Who owns an HSA account?
click for answer How do you use the money in an HSA account?
click for answer What is a qualified medical expense?
click for answer How do I keep track of the balance of my HSA account?
click for answer What types of insurance and other coverage can I have and still be eligible to take advantage of an HSA plan?
click for answer Can I use the money in my HSA account to pay medical insurance premiums?
click for answer Can I use the money in my HSA account to pay for qualified medical expenses of other family members?
click for answer What if I use my HSA to pay for something other than a qualified medical expense?
click for answer Can I have more than one HSA?
click for answer I have a MSA/HSA with another custodian. How can I combine that balance with my United Bank HSA?
click for answer If another person makes a contribution to my HSA, who gets the tax benefit?
click for answer I am age 65 and still working; can I contribute to an HSA?
click for answer I am self-employed, do I qualify for an HSA?
click for answer I'd like to open a High Deductible Health Plan. Can I open one at United Bank?
click for answer When can I open an HSA?
click for answer If I open my HSA mid-year (for example, July 1), may I make the maximum contribution?

Please contact an United Bank Office Manager for more information and to open your account today!