Health Savings Accounts (HSA)
Flexible and easy to use, a Health Savings Account (HSA) from Ulster Savings Bank is a tax-favored personal savings account that works with a high deductible Health Plan (HDHP) to help pay rising health care expenses for individuals, their spouses and their dependents.
If you have a high deductible health plan and are self-employed or employed by a small employer, you may be eligible for this product.
- Only $50 minimum to open & earn interest on all balances
- VISA Classic Check Card available
- Online statements available
Advantages for Individuals:
- Portable accounts
- Tax-advantaged contributions
- Tax-free distributions for qualified medical expenses
- Full account ownership
Advantages for Employers:
- Lower insurance premium costs
- Tax exclusions
- Control of assets
- Simple enrollment
Contact US today for more information on Health Savings Accounts.
