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Health Savings Accounts

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A Health Savings Account (HSA) is an account that individuals can invest dollars to save for future medical expenses. A HSA is a tax-exempt account established for the purpose of paying medical expenses in conjunction with a High-Deductible Health Plan (HDHP). 

Health Savings Accounts combined with a high deductible health plan from your insurance provider can reduce healthcare costs, and provide you with a tax-advantaged, lifetime medical savings account.

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Benefits of Owning a HSA

Long-Term Savings:

HSA funds roll over from year to year and always belong to you, growing tax deferred. No need to worry about any "use it or lose it" rules, your money stays in your account and rolls over year to year, allowing your funds to grow over time. 


You can pay medical expenses at the point of service by using a HSA debit card, or writing a check drawn on your HSA checking account. You can also conveniently make contributions to your HSA account through direct deposit from your payroll, or other account. 


HSAs give you greater freedom when making healthcare choices. You decide how much and when you want to contribute to your HSA, and you decide when to spend the funds.  You are the owner of the account.


HSA deposits are tax deductible and can be used to pay for medical expenses at any time. We recommend that you consult a tax advisor for details. 

United Bank & Trust HSA Features

  • No setup fee
  • $2.00 monthly maintenance fee
  • Interest earned monthly with a tiered rate
  • Free debit card
  • Free online banking
  • Initial deposit of $100 required

Maximum Contributions

HSA Type 2018 2019
Single HDHP $3,450 $3,500
Family HDHP $6,900 $7,000
Catch-Up (if age 55 or over) $1,000 $1,000

Not sure if a High Deductible Health Plan is right for you?

A good place to start is by visiting with a trusted insurance agent or your Human Resources department.  In the mean-time, check out our FAQ's on Health Savings Accounts.

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