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Health Savings Accounts
Health Savings Accounts are used for the purpose of health care expenses when linked with a high-deductible health plan. HSAs can help your business manage its health care coverage expenses. Your eligible employees may contribute tax-deferred funds up to IRS annual limits. This account can be used to pay for medical prescriptions, co-payments, deductibles, eyeglasses, contact lenses or any other qualified health care expense. All the funds contributed for the year will roll over to the following year and thereafter, as long as each account remains open.
Oak Valley & Eastern Sierra currently offer three types of HSAs: HSA Checking, HSA Savings and HSA Liquidity. To qualify for HSA coverage, your employees must be covered by what the IRS considers a high deductible health plan (HDHP) and not be covered by another primary health plan. Consult your tax advisor to see if an HSA healthcare plan is right for your business.
HSA Checking
- Interest bearing
- $2.50 monthly service charge is waived if you also have a non-HSA personal checking account
- $15 one-time set-up fee
- Low $100 minimum opening balance
- $500 minimum balance to earn interest
- Unlimited checkwriting
- Unlimited ATM/Debit Card use
Rates & Fees
HSA Savings
- Interest bearing
- $2.50 monthly service charge is waived if you also have a non-HSA personal checking account
- $15 one-time set-up fee
- Low $100 minimum opening balance
- $500 minimum balance to earn interest
Rates & Fees
HSA Liquidity
- Interest bearing
- Earn higher interest rate than available on HSA Checking or Savings
- $15 one-time set-up fee
- $4.00 monthly service charge is waived if you also have a non-HSA personal checking account
- Low $100 minimum opening balance
- $500 minimum balance to earn interest
Rates & Fees
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