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Health Savings Accounts (HSA’s)

Rising Health Care Premiums Keeping You Down? Try a Superior Health Savings Account!

Health Savings Accounts (HSAs) let you control your health coverage and enjoy tax incentives as well. An alternative to traditional health insurance, a HSA is a savings product that allows you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis.

Who may open an account?

HSAs must be connected to a qualified High Deductible Health Plan (HDHP). Your plan may qualify as an HDHP if your deductible is at least $1,400.00 annually for individual coverage and $2,800.00 annually for family coverage (Maximum annual out-of-pocket expenses for the plan cannot exceed $6,900.00 for individual or $13,800.00 for family coverage).

Are there limits on how much you may save?

Once you open an HSA, you may contribute up to the amount of your HDHP deductible but no more than $3,550.00 for individual or $7,100.00 for family coverage. Because a HDHP generally costs less than traditional health coverage costs, the money you save on insurance can be put into your HSA. Persons age 55 and older may also make a catch-up contribution of $1,000.00.

Who makes decisions about my HSA funds?

Decisions on how to spend the money are made by you – not a third party or health insurance provider. Unlike employer flexible spending account “use-it-or-lose-it” rules, you can roll over HSA funds from year to year. You can withdraw money tax-free and penalty-free at any time and use it to cover a variety of medical costs, including:

  • Doctor
  • Hospitals
  • Dental
  • Lab Expenses
  • X-rays
  • Psychotherapy
  • Chiropractic
  • Prescription drugs
  • Artificial limbs
  • Eyeglasses and contacts
  • And much, much more!

For More Information

If you are considering setting up a HDHP, come to us for your HSA. It features:

  • NO enrollment fee
  • NO monthly fee
  • NO minimum balance or deposit
  • FREE HSA debit card
  • FREE online account access
  • UNLIMITED check-writing
  • Earn interest on your HSA balance beginning as low as just $300.00*

Contact Member Services at 419.223.9746 or 877.717.2271 to set up your HSA!


*Fees could reduce earnings on accounts. Click here to view our Fee Schedule and please contact us with any questions you may have.


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