Health Savings Account (HSA)

Health Savings Account (HSA) is a savings product that offers a different way for consumers to pay for their health care expenses. You must be covered by a High Deductible Health Plan (HDHP) to be able to take advantage of the many benefits associated with HSAs:

• Unlimited withdrawals are allowed each month for qualified medical expenses
• Tax Benefits
• Interest is credited to the account monthly
• Tiered Interest Rates
• FDIC Insured

Union First Market Bank keeps the fees to a minimum:

• $10 Set-Up Fee
• $3.50 monthly

You own and you control the money in your HSA and how you contribute funds. Distribution of Funds from your HSA are subject to some rules, but how to spend the money is in your hands, you don't need to rely on a third party or a health insurer.

We encourage you to look at our list of frequently asked questions for more information.