skip to main content

Health Savings Account

If you have a high deductible health insurance plan, you could qualify for a Health Savings Account (HSA). HSA's are designed to help individuals and families save for qualified medical expenses on a tax-free basis. HSA's work like an IRA for healthcare. Contributions and interest are tax-free. Despite being called a savings account, a HSA is technically a checking account that earns interest.


  • Save Money: Contributions can be tax-deductible. Distributions are tax-free if being used for qualified medical expenses. **
  • Earn Money: Offers competitive interest rates.



  • Low, one-time setup fee of $14.00
  • Low minimum opening deposit of $100.00
  • $3.00 monthly service charge


Year Self-Only Coverage If age 55 or older Family Coverage If age 55 or older
2017 $3,400 $4,400 $6,750 $7,750
2018 $3,450 $4,450 $6,900 $7,850


What is a Health Savings Account?

A HSA is money put in an account owned by an individual to pay for future qualified medical expenses.

How does a HSA work?

A HSA works like an IRA, except the money is used to pay for qualified health care costs. Money deposited into the account is tax-deductible and is used to pay for current and future qualified medical expenses. Interest earned is tax-deferred. Unused balances rollover from year to year.

Who can qualify?

Anyone with a high deductible health insurance plan is eligible for a HSA provided they are not covered by another health insurance plan, entitled to Medicare or can’t be claimed as a dependent on someone else's tax return.

**Health Savings Accounts are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. State taxes may apply. Consult a tax adviser with questions.


Do you still have questions? Take a look at our blog post on HSAs or contact a Personal Banker by clicking the button below. 

Local People. Local Decisions. Local Ownership.
NebraskaLand National Bank is committed to website compliance with the Americans with Disabilities Act.
We strive to make our site useful and accessible to everyone. If you have questions or comments regarding the website please contact us.
copyright © 2004-2018 NebraskaLand National Bank. All rights reserved. / sitemap / Admin Login