Health Savings Accounts
Opening a Health Savings Account (HSA) at Pennian Bank gives customers a smart, tax-advantaged way to prepare for medical expenses while enrolled in a high‑deductible health plan. Pennian’s HSA offers no minimum balance, easy access through debit card, checks, and digital banking for convenient management. Funds can be used for current or future qualified medical expenses, and unlike flexible spending accounts, your balance rolls over year to year, helping you build long‑term healthcare savings. Additionally, contributions, earnings, and withdrawals for qualified expenses all offer significant tax advantages, making it a powerful tool for reducing healthcare costs.
Account features include:
- No minimum balance
- Account accessed with debit cards, checks, digital banking or Telebanc
- Free monthly printed or electronic statements
- Funds are used to pay for current medical expenses, including expenses not covered by your health insurance. Or save these funds for future healthcare needs.
- Funds remain in the account year-to-year
- Provides tax savings including tax deductions for contributions, tax-free earning through your investment and tax-free withdrawals for qualifying medical expenses.
*Consult your tax professional about HSA tax details.
Open Health Savings Account
Visit or call any of our offices to talk to one of our Customer Service Representatives so they can talk to you about your unique financial needs.
