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

Free HSA Visa Check Card
Billpay service available for $2.95 mo.

Rate Tiers

$0-$499.99
$500-$1,999.99
$2,000-$4,999.99
$5,000-$14,999.99
$15,000 and over

OptionsXpress

OptionsXpress is no longer in the HSA business, and will therefore no longer new accounts to be opened with them.

If you have an OptionsXpress account, please contact us at 419-756-2449 or 800-422-3641 ext. 421. The link below can be used to get your money out of OptionsXpress as well:

https://www.optionsxpress.com/new_account.asp?HSA_APP=TRUE&ASID=74&BRANCHID=344

Eligibility

Must be covered by a health plan with a minimum deductible of $1,250 for individuals or $2,500 for families
Annual out-of-pocket expenses (including deductible and co-pays) cannot exceed $6,250 for individuals or $12,500 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

Fees