Start Saving For The Unexpected
Healthcare expenses are almost always unexpected. The costs of healthcare can add up quickly, even when you offer health insurance for your employees. To help bridge the gap before deductibles kick in, a health savings account (HSA) is a great option to offer your employees. If you’re interested in learning more about health savings accounts and how to offer them to your employees, please contact your local Banterra branch.
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Health Savings Account Benefits
- No annual fee
- Funds roll over year to year
- Employers and employees can make contributions
- Earn competitive interest on balances over $100
- Access your accounts and make payments via online and mobile banking
- Receive a Free Banterra Visa® HSA Debit Card to make payments on qualified medical expenses
- Pay for services with checks with no per-check fee
- Access ATMs with your HSA debit card to make withdrawals or transfers
- Make payments using your HSA debit card or Online Bill Pay
- Funds in your HSA grow tax-free
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Health Savings Account Qualifications
- Must have coverage under an HSA-qualified, high-deductible health plan (HDHP)
- Have no other first-dollar medical coverage (insurance such as specific injury insurance or accident, disability, dental care, vision care or long-term care insurance are permitted)
- Cannot be enrolled in Medicare
- Cannot be claimed as a dependent on someone else's tax return
- $100 is the minimum deposit required to open the account
- To generate interest, a balance minimum of $100 is required