What is a HSA?
Five Points Bank is proud to offer HSA accounts to help you save money on health costs. An HSA provides tax benefits for eligible individuals to pay for qualified medical expenses.
Five Points Bank’s Health Savings Account is a checking account that earns interest. You can write checks on this account or use a debit card to pay for qualified medical expenses. The HSA owner should keep all medical receipts to substantiate distributions to the IRS.
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Why should you open a HSA?
Five Points Bank’s HSA includes many valuable features such as:
- No minimum balance required
- Interest earned on the entire HSA balance
- Free online and mobile banking
- Free checks
- Free debit card
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Who can open a HSA?
To open an HSA at Five Points Bank, you must:
- Have an HSA-qualified high-deductible health plan
- Have no other first-dollar medical coverage (disability, dental care and other auxiliary insurances are permitted)
- Not be enrolled in Medicare
- Not be claimed as a dependent on someone else’s tax return
If you meet these requirements, come see us at your local branch!
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HSA Family Application HSA Individual Application
HSA Family Application HSA Individual Application
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