Phone: (704) 983-6181

Health Savings Account (HSA)

Make sure you're prepared for future medical expenses with a Health Savings Account from Bank of Stanly.

This account allows you to save money tax-free to cover the cost of doctor bills, prescriptions, and other medical costs. You can access your account via a check or debit card to cover qualified expenses.

Take control of your healthcare spending today!

Summary

Interest bearing
Build reserves for future medical expenses or retirement
Easy access to funds for qualified expenses
Unlimited in-person withdrawals
Unlimited no fee in-network ATM transactions*
2 non-network ATM transactions at no charge*
Direct Deposit available
Online Banking
Online Statements
Telephone Banking
FDIC insured

*Other bank surcharges may apply. See "More Information" tab for more details.

What is an HSA?

An HSA is a savings account that enables you to save money tax-free to cover medical expenses. It is paired with a high-deductible health plan, so you can save a significant amount on premiums and then use the savings to help fund your HSA. You can use your HSA dollars to pay your deductible while unused dollars grow tax-free and may be withdrawn upon retirement and taxed as normal income.

Annual contributions are limited to your health plan deductible, up to a maximum of $2,850 for an individual and $5,650 for family coverage. Individuals aged 55 and older can make additional "catch-up" contributions.

More Information

$2.25 monthly fee waived if minimum balance of $3,000 is maintained