Health savings account at Partners Bank
Save for Medical Expenses with a Health Savings Account
A Health Savings Account (HSA) helps you save money for qualified medical expenses for yourself, your spouse, and your dependents.
If you qualify, you can open a health savings account and set aside funds specifically for healthcare costs. HSAs work with high-deductible health plans (HDHPs) and allow you to use your savings to pay for eligible medical expenses. Partners Bank offers HSAs for customers who want a dedicated account to manage healthcare expenses while maintaining control over how funds are used.
Get started
Open a health savings account
To open a health savings account, you must meet certain eligibility requirements. If you believe you might qualify, visit a Partners Bank branch or speak with a banker to learn more about opening an HSA.
You may qualify if you:
Are covered by a high-deductible health plan (HDHP) on the first day of the month
Are not covered by another non-HDHP health plan (with certain limited exceptions)
Are not enrolled in Medicare
Cannot be claimed as a dependent on another person’s tax return
HSA Benefits
Simple savings
Account designed to pay or reimburse qualified medical expenses
Funds can be used for healthcare costs for you, your spouse, and your dependents
Account available to individuals enrolled in a high-deductible health plan (HDHP)
Tax-advantaged savings when used for eligible medical expenses
Keep the account, even if your circumstances change
Prepare for long-term health costs
Understanding how HSAs work
HSAs are designed to help individuals manage healthcare expenses while maintaining control over how their funds are used. You can use the funds in your HSA to pay for qualified medical expenses when they occur. Eligibility requirements must continue to be met in order to contribute to the account. If you have questions about eligibility or account setup, a Partners Bank representative can help you determine if an HSA is right for you.
Questions
FAQs about Health Savings Accounts
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Open a health savings account at Partners Bank
If you qualify and want to open a health savings account, Partners Bank can help you get started. Visit a branch or speak with a banker to learn more about opening an HSA and determining whether it fits your healthcare savings needs.
