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Health Savings Accounts (HSA)
Smart Savings for Healthcare Expenses
A Health Savings Account (HSA) from 21st Century Bank is a tax-advantaged way to save for qualified medical expenses while planning for a healthier financial future. Designed for individuals and families with High Deductible Health Plans (HDHPs), HSAs offer flexibility, control, and long-term savings benefits—all in one account.
What is a Health Savings Account (HSA)?
An HSA is a personal savings account that allows you to set aside money—before taxes—to pay for current and future healthcare costs. The funds in your HSA can be used to cover a wide range of qualified medical expenses, including doctor visits, prescriptions, vision and dental care, and more.
Why Open an HSA with 21st Century Bank?
When you choose 21st Century Bank for your HSA, you get more than just an account—you get a partner in financial wellness. Our local team is here to help you understand your options and manage your healthcare savings with confidence.
Benefits of a 21st Century Bank HSA:
- Tax Advantages: Contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified medical expenses are also tax-free.
- Flexibility: Use your HSA funds anytime for eligible expenses—even into retirement.
- Ownership: Your HSA is yours to keep, even if you change jobs or health plans.
- Convenience: Easy access to funds with checks or a debit card, plus online and mobile banking tools.
- No “Use-It-Or-Lose-It” Rule: Unused funds roll over year after year.
Who is Eligible?
To qualify for an HSA, you must:
- Be covered under a qualified High Deductible Health Plan (HDHP)
- Not be enrolled in Medicare
- Not be claimed as a dependent on someone else’s tax return
Use Your HSA for a Wide Range of Expenses
Eligible expenses include:
- Doctor visits and hospital services
- Prescription medications
- Dental and vision care
- Mental health services
- Medical equipment and supplies
For a full list of qualified expenses, visit irs.gov.
Start Saving for Your Health Today
Whether you’re looking to manage today’s medical costs or prepare for future healthcare needs, an HSA from 21st Century Bank gives you a smart, tax-friendly way to save. Our team is here to help you get started and make the most of your account.
Visit your local branch or contact us to open an HSA and take control of your healthcare spending with confidence.