Health Savings Accounts
Health Savings Account (HSA)
Finally an Account that allows you to pay for your out of pocket deductible with tax free funds.- Contributions are TAX DEDUCTIBLE
- Interest earned is TAX DEFERRED¹
- Distributions are TAX FREE if spent on qualifying medical expenses
No one else offers a Health Savings Account (HSA) like Bank of Alaska!
- No Enrollment Fees
- No Prior Relationship requirements
- No Administration Fees
- No Deposit or Transaction fee
- No Overdraft Fee
- No Closing fee
- No Monthly Fee
- No Annual Fee
- No Minimum Balance Requirement
- Free HSA Debit Card²
- Free First Box of Checks
- Free Automatic Transfers
- Free Online Banking
- Free Direct Deposit
If you concerned about the high cost of health care or are you planning ahead for potential medical expenses that may arise? Bank of alaska HSA is a very good, economical option you may want to consider.
Here’s why: Let’s say you’ve got a high out of pocket deductible to meet with your health insurance plan, rather than paying for these expenses with your checking account or your credit card, you can use your Bank of Alaska HSA to cover these costs with pre-tax dollars. In a sense you’ll get a discount on your medical expenses with your Bank of Alaska HSA.
With the Bank of Alaska HSA there are no “use it or lose it” conditions, any money you don’t use in your Bank of Alaska HSA will remain from year to year and accrue interest until you use it.
And even better! Your Bank of Alaska HSA can provide you additional Retirement Savings, too. After age 65, funds can be withdrawn for any purpose without an IRS penalty but you will have to claim the distribution as income.