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.
*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.
- Free HSA Visa Check Card
- Billpay service available for $2.95 mo.
- $15,000 and over
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:
- 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
Monthly bank account fee $1.50
Waived on balances of $1500 or more for entire month (minimum balance)
Fee for paper statement $1.50/mo.
Process manual withdrawal request $5.00
Excess contribution fee $10.00
Returned mail fee $5.00
Assessed when a required mailing is returned due to bad address
Overdraft/NSF drafted against HSA $30.00/item
Online Banking FREE
Billpay Service $2.95/mo.
Per Check Charge $1.00/ea.
Research fee $20.00/hr.
Includes special handling or manual processing requests 1 hr. minimum
Transfer fee $20.00