Five Points Bank Blog
The Benefits of Health Savings Accounts(HSAs)
Take the stress out of paying for healthcare by opening a Health Savings Account (HSA).
Even when you have perfect health, it can be expensive to maintain, let alone when an unexpected illness hits. Five Points Bank helps make healthcare more affordable by allowing you to benefit from tax savings when using our HSA, plus the account earns interest and rolls over year to year.
What is a HSA?
Five Points Bank is proud to offer HSA accounts to help you save money on health costs. An HSA provides tax benefits for eligible individuals to pay for qualified medical expenses.
Five Points Bank’s Health Savings Account is a checking account that earns interest. You can write checks on this account or use a debit card to pay for qualified medical expenses. The HSA owner should keep all medical receipts to substantiate distributions to the IRS.
Why should you open a HSA?
Five Points Bank’s HSA includes many valuable features such as:
Who can open a HSA?
To open an HSA at Five Points Bank, you must:
If you meet these requirements, come see us at your local branch!
Other important information to know about HSAs