Health Savings Accounts
Eagle Community Bank is proud to offer the highest quality banking relationship in the industry. With that in mind, we are pleased to offer a savings account to assist you with your medical related expenses. Eagle Community Bank has happily offered Health Savings Accounts, or HSA’s, for many years.
Eagle Community Bank Health Savings Account*
- No monthly service charge if averaged daily balance of$1,000.00 is maintained; otherwise $3.00 service charge applied
- Free Online Banking
- Free Debit Card transactions
2015 Contribution Limits:
2016 Contribution Limits:
Catch-up Contribution 2016:
Eligibility: $1,000.00 per individual age 55 and older
Minimum Deductible 2016:
Maximum Out-of-pocket expenses 2016:
Health Savings Accounts, which were created by the Medicare bill in 2003, are tax-sheltered savings accounts that are specifically designed for paying medical expenses. These accounts work together with high deductible health care plans to pay health related costs until the insurance deductible is met. Additionally, having an HSA allows you to withdraw funds at any time to pay qualified medical bills for yourself, your spouse, or any of your dependents using pre-tax dollars.
If you have any further questions regarding HSA’s, please contact a Retail Banking Officer at: (763) 494-9800.
* Variable interest rate is subject to change at any time at Eagle Community Bank’s discretion. Minimum Opening Deposit of $100. No ATM withdrawals allowed.