Health Savings Accounts and HSA Bank

What is a Health Savings Account?

A Health Savings Account (HSA), is a tax-advantaged savings account you can use for health care expenses. The funds in the account are used to pay for IRS-qualified medical expenses and can be applied to your deductible, dental care, vision expenses and more. Our partnership with HSA Bank offers an easy way for members to set up a Health Savings Account. We do not create, manage or administer any HSA; you have complete control over your HSA.

Which Health Plans are HSA Eligible?

Starting with plan year 2026, Marketplace Bronze and Catastrophic health plans, along with High Deductible Health Plans (HDHPs), are HSA eligible. We offer a variety of plan designs that can be paired with an HSA, which can help you save for health care expenses now and in the future!

Who can get an HSA?

  • You must be covered by an HSA-compatible health plan. Note: eligible spouses can create their own HSA, but children cannot have an HSA.
  • You cannot be:
    • Covered by other health insurance (except certain types of limited coverage).
    • Enrolled in Medicare.
    • A dependent on someone else’s tax return.

What are some of the benefits of having an HSA?

  • Savings. Any HSA dollars you don’t use this year can be saved and used to reduce out-of-pocket expenses in future years — even in retirement.
  • Convenience. The bank that holds your account will provide you with a checkbook and/or a debit card you will use to pay for covered expenses.
  • Control. You choose how much to contribute to your account. You also decide how much to spend on qualified medical expenses, and which ones to pay from the HSA account.

How do I set up an HSA?

Contact your local financial institution to find out if they offer Health Savings Accounts. Or call HSA Bank at 1-800-357-6246 to set up an account and take advantage of:

  • No monthly fees.
  • Access to the HSA Bank Client Assistance Center, 24 hours a day, 7 days a week (except select holidays).
  • Pre-tax contributions.
  • Annual rollover.

Do you have questions or need help setting up your account? Call HSA Bank directly at 1-800-357-6246. Visit HSABank.com for more information.