Health Savings Account

This is an account to use pre-tax Health Savings Account (HSA) dollars to pay for medical expenses.  You are eligible to contribute to an HSA, if you are covered by an HSA-eligible high deductible health plan (HDHP), are not covered by another non-HDHP, are not enrolled in Medicare, and you are not claimed or eligible as a dependent on another individuals personal Federal Income Tax Return.  If you are not eligible to contribute to an HSA, you may open an HSA solely to make rollover contributions.  Consult your tax advisor for additional guidance.

Rate Information

This Account is an interest bearing account.  The interest rate and annual percentage yield are included in the Rate Chart.  The interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on the account daily.  Interest begins to accrue on the business day you deposit noncash items (for example, checks).  Interest will be compounded monthly and will be credited to the account monthly.  If the account is closed before interest is credited, you will not receive the accrued interest.

Balance Information

We use the daily balance method to calculate the interest on the account.  This method applies a daily periodic rate to the principal in the account each day.

Limitations

You must deposit $50.00 to open this account.

Account Fees

Your account will be assessed a $3.00 maintenance fee per statement cycle.  Maintenance fee is waived if a $1,000 minimum daily balance is maintained for the statement cycle.