HSAs

Confused by Health Saving Accounts?
Citizens Bank has the prescription.

If you have a High Deductible Health Plan (HDHP) a Health Savings Account (HSA) is a smart way to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment. An HSA from Citizens Bank offers a competitive tiered interest rate, free checks and a free debit card for easy access.

Advantages of HSAs

• Security – Your HDHP and HSA protect you against high or unexpected medical bills.
• Affordability – You should be able to lower your health insurance
  premiums by switching to a HDHP.
• Flexibility – You can use the funds in your HSA for current medical expenses or save the funds for future needs.
• Savings – You can save the money in your account for future medical expenses and grow your account through interest earnings.
• Control – You make the decisions about how much to put into the account and which medical expenses to pay from the account.
• Portability – You can keep your HSA even if you change jobs, change your medical coverage or become unemployed.
• Ownership – Funds remain in the account from year to year. There is no “use it or lose it” rule for HSAs.
• Tax Savings – An HSA provides you with tax savings, when you contribute to your account, through interest earnings and with tax-free withdrawals for qualified medical expenses.

Call 888-645-4121 or email for more details or to open an HSA account.

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