Health Savings Account (HSA)
You save for rainy days and retirement, but do you save for your healthcare? A Health Savings Account (HSA) is like an IRA for your healthcare that empowers you to prepare for and manage healthcare costs – both today and tomorrow.
- Tax-advantaged* way to pay for qualified medical expenses
- Must be used in conjunction with a High Deductible Healthcare Plan (HDHP)
- Competitive interest, higher than regular savings
- Annual deposits may not exceed maximum allowed by law*
- Account belongs to you, not your employer
- Easy way to access funds
- No "use it or lose it" policy
- Convenient automatic deposits from other German American State Bank accounts
- Online banking
- Mobile banking
- $100 minimum deposit required to open
*Consult a tax advisor.