Health Savings Account

Health Savings Account (HSA) ABCompany, Inc.

895 Main Street, Dubuque, IA 52001 | 800.373.1841 | americantrust.bank

Your Health Savings Account

Save now for retirement and healthcare.

What is a Health Savings Account?

The Basics A Health Savings Account (HSA), is similar to a savings account. It is a tax-exempt account that can be used to pay for current or future health care expenses. When combined with a high-deductible health plan (HDHP), it offers savings and tax advantages that a traditional health plan cannot. With an HSA, you can pay for all eligible medical expenses, including:

• Health insurance deductibles • Co-insurance • Prescriptions • Vision expenses • Dental care

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Learn how an HSA works.

Who is Eligible for an HSA?

In Order to be Eligible You: • Must be covered under a high-deductible health plan (HDHP)

• Generally, may not be covered under any other type of non-HDHP benefit program, such as health flexible spending arrangements and health reimbursement arrangements, or have received Veterans Affairs (VA) medical benefits. Exceptions exist for vision, dental, long-term care, disability, and preventive care • Must not be eligible for Medicare (age 65) or if you are, not enrolled in Part A, B, or D • Can not a dependent on another person’s tax return

Eligibility for Rollovers • The assets you receive from the distributing HSA generally must be deposited into another HSA within 60 calendar days • You are entitled to one HSA rollover contribution in a 12-month period

Advantages of Using an HSA

• Triple tax advantage: save money on your health care expenses • Funds rollover each year: HSA money is portable and can be moved with you when changing jobs • Unused money: can stay in the account–earning interest that is not taxed • Lower monthly premiums than a traditional health plan buyer offers • Control how you spend your HSA money

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More on Triple Tax Advantage.

Contributing to your HSA

Save comfortably for your healthcare.

Contribution Limits

Contributing is Easy You and your employer can contribute to your HSA. 2018 offers individuals and families additional opportunities to save for current and future health care with an HSA:

Minimum Deductible

Maximum Out-of-Pocket

Contribution Limit

55+ Contribution

Single

$1,350

$6,650

$3,450

$1,000

Family

$2,700

$13,300

$6,900

$1,000

Qualified HSA Funding Distribution You are allowed to make a one-time direct movement of assets from a Traditional IRA or Roth IRA to an HSA, and it is treated as a regular HSA contribution. If your insurance coverage changes from self-only to family during the year, you may make an additional HSA funding distribution to meet, but not exceed, the family coverage contribution limit.

For more detailed information on HSA plans and taxes, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.

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HSA Saving for Retirement and Healthcare

Your American Trust HSA

Expect ease and convenience with American Trust.

Ensuring Your Physical and Financial Health

Start Saving Today

Opening an HSA at American Trust is easy and convenient: • No opening deposit or minimum monthly deposit required • No monthly minimum balance required • Interest-bearing checking with tiered interest rates. Interest is earned daily and credited monthly • No annual fee • No initial set-up fee • Member FDIC Using Your Account • Contributions from employer and payroll deduction must be sent electronically in ACH format to American Trust. An employee can also make contributions in person at any American Trust office • Checks or debit cards are used for distributions–no annual fee on the debit card • Quarterly statements are issued with images • Online and Mobile Banking is available at no charge for American Trust clients • Email your HSA questions to hsa@americantrust.com

For information on opening an Investable American Trust HSA, click here.

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