Health Savings Accounts

Designed to provide a tax advantage to offset qualified health care expenses incurred by the account beneficiary and dependents.

 

  • No monthly service charge if you maintain a daily balance of $3,000 or more; otherwise, a $3.00 monthly fee is assessed
  • No charge for Synergy VISAŽ Debit Cards & Online Bill Pay

  • No charge for first 50 checks
  • $100.00 minimum deposit to open account
  • One-time setup fee of only $10.00 (Waived on company group enrollments)


You are eligible to participate for any month if you:

  • Are covered under a high deductible health plan (HDHP) on the first day of such month;
  • Are not also covered by another health plan that is not an HDHP (with limited exceptions);
  • Are not enrolled for benefits under Medicare (generally not yet age 65); and
  • Are not able to be claimed as a dependent on another person’s tax return.

2013 HDHP limits:

  • Annual deductible = $1,250 (individual) and $2,500 (family)
  • Annual deductible plus out-of-pocket expenses cannot exceed $6,250 (individual) and $12,500 (family)

2013 HSA Contribution Limits  (2012 contributions can be made until April 15, 2012):

  • $3,250 (individual).  $4,250 if age 55 or older*
  • $6,450 (family).  $7,450 if age 55 or older*

*Catch up contributions up to $1,000.00 allowed if age 55 before close of taxable year

 

2012 HDHP limits:

  • Annual deductible = $1,200 (individual) and $2,400 (family)
  • Annual deductible plus out-of-pocket expenses cannot exceed $6,050 (individual) and $12,100 (family)

2012 HSA Contribution Limits  (2011 contributions can be made until April 15, 2012):

  • $3,100 (individual).  $4,100 if age 55 or older*
  • $6,250 (family).  $7,250 if age 55 or older*

*Catch up contributions up to $1,000.00 allowed if age 55 before close of taxable year