A Great New Way To Save On Healthcare Costs!
Introducing Health Savings Accounts At Citizens State Bank

A Health Savings Account (HSA) is an excellent way of addressing today’s rising health care costs, as well as the high price of health insurance premiums. Best of all, keeping your HSA at Citizens State Bank is FREE!

How Does An HSA Work?
An HSA is a tax-deferred deposit account that earns interest and can be used to pay for qualifying medical expenses, whether they happen today or sometime in the future. When you turn 65, you can continue to use the funds in your HSA for medical expenses, tax free and penalty free, or you can withdraw as much money as you wish, penalty-free, for any non-medical reason. Individuals or employers can contribute to an HSA.

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Why Is An HSA Good For Me?
• HSA contributions - by employer or employee - are excluded from income.
• HSA earnings are tax-deferred.
• If used for qualified medical expenses, HSA assets are never taxed.
• High deductible insurance plan means lower insurance premiums.
• Flexible Money - you own your account.

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What Are Qualified Medical Expenses?
To remain tax-free, HSA assests can be used for:
• Actual medical expenses.
• Long-term care insurance
• Healthcare coverage when unemployed
• Certain continuation-of-benefit healthcare coverage, and
• Certain health insurance after age 65.

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Who Is Eligible To Participate?
Anyone who has a high deductible health plan as their primary health insurance plan is eligible to participate.

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For specific tax or legal advice about an HSA, speak with a qualified advisor.

For more information on opening an HSA,
contact Citizens State Bank today!