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