Outsmart the high costs of healthcare.
Let's face it, healthcare is expensive. The smartest strategy? Open a tax-advantaged health savings account (HSA). For starters, an HSA triples your tax benefits: tax-deductible contributions, tax-free growth and non-taxable withdrawals for qualified expenses.
Other reasons to open an HSA: Paired with a high-deductible health plan (HDHP), an HSA can help pay for everything from co-payments for routine visits and prescription or over-the-counter medications to surgery for you, your spouse and eligible dependents. You can also use it for vision, dental and even pet care, as well as long-term care.
And once you open a health savings account, you have it for life, with balances rolling over from year to year – a plus for budgeting. Another plus: You also earn interest.
How does it work? Despite the "savings account" in the name, your Heartland Bank, a division of German American Bank HSA is actually an interest-bearing checking account with interest payouts at three tier levels:
- $0 - $2,499
- $2,500 - $9,999
- $10,000 - over
Features & Benefits:
- Pay medical expenses with pre-tax dollars
- Let unused account funds accumulate tax-deferred and use them for future healthcare expenses
- Take unused account funds with you if your employment changes
- Get flexible access to funds using your Heartland Bank, a division of German American Bank Check Card, checks, telephone and online banking
- Track account activity for tax records with monthly statement details that include employee and employer contributions
- Enjoy the peace of mind that your funds are FDIC-insured up to $250,000
Need to transfer an existing HSA? We're happy to help.
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