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Defray the cost of health care expenses, while taking advantage of tax savings.
If you need a break from the high cost of healthcare, a Health Savings Account may be right for you! An HSA offers eligible individuals1 many benefits, including the option of keeping the money as a savings towards retirement.
Account Features:
- No set-up charges; no monthly fees
- Earn interest on all balances over $1.00
- Check card with no annual fee
- Free direct deposit setup
- Free online banking
- Available for individuals and family plans
- Low opening deposit of $100
Plus:
- Unlimited withdrawals for approved expenses2
- If you don't need the funds to pay medical expenses, your money can remain in the account as tax-advantaged savings
| 1 | To qualify for an HSA, you must be 18 or over, and covered by a High-Deductible Health Plan (HDHP). You are ineligible for an HSA if you are covered by any health insurance plan other than an HDHP, have applied for Social Security benefits, receive Medicare benefits or are claimed as a dependent on another person's tax return. There are no income limits to qualify for an HSA, and your contributions do not need to come from employment earnings. You can make deposits from personal savings, dividends, and unemployment or welfare benefits. |
| 2 | Up to the amount of your current and prior contribution. The limit for 2008 is $2,900 for single coverage and $5,800 for a family plan. For additional information, please visit www.heritageoaksbank.com or speak with a Financial Services Representative. |
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Ideal for those enrolled in a qualified high-deductible health plan, who want to save for additional health expenses.
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