Are you eligible for a Health Savings Account?
You must be enrolled in an HSA-qualified High Deductible Health Plan (HDHP).
You cannot be enrolled in Medicare.
You cannot be enrolled in another health insurance that is not HDHP.
You cannot be claimed as a dependent on another person's tax return. 

Benefits of a Health Savings Account:
You are in control of your health care dollars.
You get to decide how you spend your money and how much you want to contribute. Annual contribution limits for 2021 are $3,600 for individuals, $7,200 for families, and an additional $1,000 for people 55 and older.

You can save for future qualified medical expenses. 
You can use your HSA funds today or save them for future qualified medical expenses. Your HSA may be a great tool for retirement planning in terms of health care expenses. To learn more about qualified medical expenses, visit the Department of the Treasury Internal Revenue Service website.   

Your money never expires.
Even if your coverage is through your employer and you change jobs or become unemployed, the money in your health savings account stays with you and is yours to use. It never expires and can always be used for qualified medical expenses regardless of your underlying health insurance in the future. 

Howard Bank's HSA Benefits: 
Howard Bank's Health Savings Account (HSA) is designed to enable you to set money aside for your health care expenses while earning interest on your balance. By placing money in an interest-bearing HSA, you can save for future qualified medical expenses while allowing your HSA account balance to grow tax-free.*

  • Interest paid on all balance tiers  
  • NO close-out or setup fee
  • NO monthly fee
  • NO minimum to open
  • NO minimum balance
  • FREE eStatements
  • FREE Visa® debit card
  • FREE online banking
  • FREE mobile banking** with: 
    • Mobile deposit
    • Account alerts
    • Card controls

Annual contribution limits for 2021 are $3,600 for individuals, $7,200 for families and an additional $1,000 for people 55 and older.

Watch an overview of Health Savings Accounts here.
Still have questions or ready to open? Send an email to [email protected] or call our HSA representative, Diane Fitzgerald, at .


Ready to get started?

 Visit our branch locations  

See fee schedule [PDF] for details. 
*Consult your tax advisor. Interest rates may change without notice. Fees may reduce earnings on this account. Certain limitations may apply and are subject to change at any time.
** Third-party data fees may apply.