Health Savings Account

Heritage Bank's Health Savings Account (HSA) is an interest bearing account designed to help eligible individuals save for current and future qualified medical expenses and is used in conjunction with a High Deductible Health Plan from your insurance provider.

HSA Features

• Earn interest on the full balance of your HSA with tiered interest
• Shazam debit card; no checks with account
• Make tax-free distributions from your HSA for qualified medical expenses using: 
  • Shazam debit card at merchants and service providers—FREE
  • Shazam debit card to get cash at an ATM—$1/transaction at non Shazam ATMs
  • ePay online bill pay—FREE
  • In bank withdrawal—$5.00 each  
• Online Banking access
• $3/month service charge to receive paper statement; waived if paperless eStatements are selected

Additional Features and Requirements

• $50 minimum deposit to open account, waived if regular ACH deposits established at account opening
• $25 setup fee; to be paid at the time HSA is established, may be deferred for up to 30 days 
• Variable interest rate paid monthly 
• $30 fee if account is closed within 6 months of opening
• IRS corrections: $10
• Excess contributions: $20
• Overdrafts & NSF: $27 per item*

* Overdrawing your HSA will cause the plan to be disqualified by the IRS.