Health Savings Account

Key Features

Competitive Interest
Tax Advantages¹
No “Use It or Lose It” Policy
Contact your local Financial Center or open online

Details

Greater personal control over healthcare management and expenses
Access funds via Digital Banking, Debit Card, or Check
Prepare for qualified medical expenses
Earn interest²
An HSA may provide triple tax savings³:
- Tax deductions when you contribute to your account
- Tax-free earnings through investment
- Tax-free withdrawals for qualified medical, dental, vision expenses, and more
Contributions are tax-free and can be made by you, your employer, or a third party
Funds can be withdrawn at any time⁴
Avoid the $2 monthly service fee by:
- Maintaining a $500 minimum daily balance or
- Enrolling in eStatements via Old Fort Bank Internet Banking
Unused funds remain in account year after year; no "use it or lose it" policy
Keep your HSA in your name, regardless of career or life changes
Federally insured by FDIC
No minimum deposit to open
See our current rates

Eligibility

Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.

^{A closed account fee of $25.00 will be assessed if the account is closed within 90 days from opening.}

^{1 Consult a tax expert in regard to applicable tax deductibility.}

^{2 Applicable only when balance is above $2,000.}

^{3 Consult a tax advisor.}

^{4 You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn may be included as taxable income, and may subject to penalty.}