Personal - Deposits - Health Savings Accounts (HSA) Scott State Bank

stethoscope in front of stacks of coins on table

Health Savings Accounts (HSA)

  • $100 minimum deposit to open
  • No minimum balance is required
  • $2.50 monthly service charge
  • Interest is tiered and variable
  • Debit Card(s) available
  • Checks available

A Health Savings Account may be a valuable tool in dealing with mounting medical expenses.  Its various features and financial benefits, offer protection against major health care costs, but it is also a potential reservoir of tax-deferred savings if you don’t need the HSA assets for medical expenses.  When eligible to have one you can experience the following benefits:

  • Savings tool with investment earnings
  • Flexibility to pay current medical expenses or save for future needs
  • Tax-deductible contributions
  • Tax-deferred earnings
  • Tax-free distributions, if used properly
  • Balance carries over from year to year
  • Remains with you, regardless of change in coverage or employment

Contact one of Customer Service Representatives to learn more about a HSA and how it may benefit you!

Click here to go to our Interest Rate page