Please Note:

A competent tax advisor should be consulted for any questions concerning Health Savings Account eligibility and tax benefits. Health Savings Accounts are a special, tax-favored account type that have specific restrictions including, but not limited to, eligible expenses and deposit limits. 

Please take the time to familiarize yourself with these restrictions. While HSAs are housed at banks, the account activity is ultimately between the account holder and the IRS, and not monitored by banks. Excess contributions will likely be flagged during tax filing and non-medical expenses during an IRS audit. Penalties apply. Your health insurance agent or tax accountant are good resources should you have questions.


HEALTH SAVINGS ACCOUNT    
Description
Access your pre-taxed savings for qualified medical expenses.
   
Minimum Balance (MB)
none    
Interest
Calculated on an average daily balance; compounded and paid monthly    
Compounding

monthly

   
Statements
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Monthly statements
   
Early W/D Penalty
n/a    
Online/Mobile Banking
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Checks
UCB Logo basic checks
   

     

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