Share buttons

 

 

Health Savings Account (HSA)

An HSA is a personal account you can contribute to and draw from to pay for many out-of-pocket medical costs like doctor visits, prescriptions, vision, and dental care.

 

Who is Eligible?

Individual HSAs are available to those who also participate in a qualified High Deductible Health Plan (HDHP) for medical expenses.

Making contributions and growing your account.

Depending on your plan (single or family), you may contribute up to the maximum limits as set by the IRS annually. You can make contributions and grow your account through Direct Deposit, online transfers from a personal checking or savings account, or rollover funds from another HSA. A transfer fee of $30 will be assessed if you move your HSA to another institution.

Opening an account.

Opening an HSA account is easy. Simply contact your local branch and an advisor can assist you with the process. Since an HSA is an individual account, you may not hold it jointly with another person but all eligible members of your family can benefit from it.

  • No account minimums
  • Special HSA Mastercard® debit card
  • Contributions are tax-deductible
  • Balance rolls over each year

 

Advantages of an HSA

wallet with money

Affordability

Pay less for a HDHP and use the premium savings to fund your HSA.
man with glasses with a couple

Control

Your money is in your hands. You get to decide whether to save it or use it for medical expenses.
woman doing yoga

Flexibility

HSA funds can be used for a wide range of healthcare-related expenses not typically covered by other healthcare accounts.
woman with arms stretched out

Ownership

The money you save stays. Your HSA is a lifetime account that is not tied to any one health plan or employer.

Health Savings Account FAQs

The web site you have selected is an external site not operated by Horizon Bank. This link is provided for convenience and informational purposes only and Horizon does not endorse and is not responsible for the content links, privacy policy or security policy of this website or app you are about to visit.  Horizon Bank is not responsible for (and does not provide) any products, services or content for this third-party site or app, except for products and services that explicitly carry the Horizon Bank name. Click Proceed to continue or Cancel to go back.