A health savings account, or HSA, is a tax-favored savings account that is used in conjunction with a high-deductible, HSA-eligible, health insurance plan. HSAs help to make healthcare more affordable and retirement saving goals more attainable. HSA’s are similar to an IRA but with some additional advantages. Pre-taxed money is deposited each year into an HSA and funds can be easily withdrawn at any time to pay for qualified medical expenses. Withdrawals can also be made for non-medical purposes, but will be taxed as normal income and are subject to a 10 percent penalty if done prior to age 65.
Any HSA funds not used each year remain in the account, and earn interest tax free to supplement medical expenses in the future.
Like an IRA, the account belongs to you, not your employer. However, unlike an IRA, your employer CAN contribute to your HSA.
Stop in to your local branch today for more information regarding our HSA’s or give us a call.
HSA Program Features
- FDIC or NCUA Insured:
- Min Balance to Open:
- Online Banking
- Investment Options
HSA Interest Rates
|$0.00 - $2,499.99||0.05% APY|
|$2,500.00 - $4,999.99||0.05% APY|
|Monthly Maintenance Fee||$0.00*|
|Account Opening Fee||$25.00|
|Account Closing Fee||Unknown|
* If the account balance falls below $100.00 on any day of the month, a $1.50 maintenance fee will be charged
HSA Investment Options
- $25.00 account opening fee
- Minimum opening deposit of $1,000.00
- 12 Month Term
- Interest compounded quarterly
- Interest paid quarterly and at maturity
- Automatically renews at maturity
|Website||Community Bank's HSA Website open_in_new|
|Address||101 W Main St.
Cameron, WI 54822
|Mailing Address||PO Box 457
Cameron, WI 54822
|Phone Number||(715) 458-2513|