Sutton Bank - Health Savings Account (HSA)

Summary

This unique checking account grants you a tax advantage to offset medical expenses. Funds contributed to the account are not subject to income tax and may be used to pay for qualified health care at any time without tax liability. If you withdraw money for non-medical expenses, the funds are treated like an IRA account. HSA is the smart way to invest in your wellness.

Download HSA Application

Download HSA Rollover Form

Transfer funds into/from your HSA account*

*There is no fee for moving funds into a Sutton Bank account and a $0.50 charge for moving funds from Sutton Bank into another financial institution.

Features

Invest funds with OptionsXpress*
No monthly fee
Free HSA Visa Check Card
Small $1 fee per HSA checks
Billpay service $2.95 a month

* Sutton Bank has partnered with the leading online brokerage service OptionsXpress. OptionsXpress offers custom trade tools for experienced and novice investors. Visit www.optionsxpress.com or call (866) HSA-2010 for more information.

Eligibility

Must be covered by a health plan with a minimum deductible of $1,100 for individuals or $2,200 for families
Annual out-of-pocket expenses (including deductible and co-pays) cannot exceed $5,600 for individuals or $11,200 for families
Cannot be covered by other health insurance
Cannot be enrolled in Medicare
Cannot be claimed as a dependent on someone else's tax return

Tiers