set money aside for future medical costs
Health savings accounts (HSAs) provide you with another option for paying your medical expenses. Qualified individuals can set money aside, tax-free, for future medical needs. It’s easy to access your account or set up contributions.
Get even more when you open a Prime Access checking account1. With a Prime Access checking account we offer exceptional rates to help your nest egg grow. Using your HSA for the future can help improve your financial picture in retirement.
You may be eligible for a tax-free health savings account.
You may be eligible for an HSA if you:
- Are covered by a qualifying high-deductible health plan
- Are not covered by any other health plan
- Cannot be claimed as a dependent on someone else’s tax return
- The money you set aside in your HSA stays with you. Whether you change jobs or switch insurance companies, that money will still be there for medical expenses—and you decide when to use it.
*GSB does not provide tax advice. Please consult a tax professional for tax-related questions
Start making contributions today
- For 2022, the maximum you can contribute to a Health Savings Account is a $3,650 for single coverage and $7,300 for family coverage. Minimum High Deductible Health Plan deductibles are $1,400 for single coverage or $2,800 for family coverage.
1. The interest rate on this account is based on your related Prime Access checking account. Prime Access checking accounts must be open for a full statement period to receive the premium interest rate. If you close your related Prime Access checking account you will receive the Health Savings Account rate, which is variable. Please visit a branch, call us at (203) 453-2721 or refer to https://mygsb.bank/personal/bank/deposit-rates/ for rates and tiers currently in effect.