Health Savings Account

The rising costs of healthcare makes our Health Savings Account (HSA) a timely and smart solution. Instead of relying solely on your traditional health insurance plan, open a tax-advantaged medical savings account, which lets you pay for any qualified medical expense. Available to anyone enrolled in a High Deductible Health Plan (HDHP), our HSA enables you to save money, on a tax-free basis, to pay for current and future qualified medical expenses. Unlike a Flexible Spending Account (FSA), your funds in an HSA roll over and accumulate from year to year, giving you greater flexibility and control.

The Advantages:

  • Save on health insurance premiums
  • Reduce your taxable income
  • Use to pay for eligible medical expenses (i.e. prescriptions, preventative care, dental and vision care, and qualified over-the-counter medications)
  • Your HSA is portable—it follows you through changes in employment or insurance coverage
  • Roll balances over from year to year—there are no “use-it-or-lose-it” rules

Who is Eligible? Anyone:

  • Currently enrolled in a qualified HDHP
  • Not covered by any other health plan
  • Not enrolled in Medicare
  • Not claimed as a dependent on someone else’s tax return

Our HSA offers:

  • Interest-bearing checking account
  • Low minimum initial deposit and no minimum balance
  • No setup fee
  • Competitive interest
  • No per-check charge
  • Unlimited check writing
  • Free monthly statement
  • Free debit card
  • Free eStatements
  • Free Internet Banking and bill pay


Contact your local United Bank & Trust office to discover how adding an HSA to your healthcare plan benefits you.


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