Health Savings Account

Make medical care more affordable for you and your family

A big medical bill can be a bitter pill to swallow - one more worry when the focus should be on you or a loved one receiving the best treatment possible. One way to buy yourself peace of mind is by opening a tax-advantaged account that helps you set aside money in advance to cover doctor, dental and vision care, plus prescription costs and other health-related services.

Benefits for Individuals

• Designed for individuals and families with high-deductible health-insurance coverage
• Pre-tax dollars can be routed to your HSA through payroll deductions
• Earn a robust interest rate on deposits
• Interest earnings are tax-free and all qualified withdrawals are tax-free
• No minimum opening deposit or daily balance
• No service fee
• Get a special debit card to pay for medical expenses
• Track activity using Online and Mobile Banking
• Any unused funds automatically roll over to the next year
• Unlike employer health insurance, your HSA stays with you even if you change jobs
• Funds still in account when employees reach retirement age can be used for any purpose

Benefits for Employers

HSAs can be an attractive option for businesses that offer high-deductible insurance plans or no health-care insurance at all.

• Added benefit to attract and retain good employees
• No cost involved in offering your workforce Midstates Bank HSAs
• Any contributions employers choose to make are exempt from payroll taxes.
• You can help employees become better health care consumers
• Midstates can help educate your employees on the benefits of HSAs