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Personal/Bank

Health Savings Accounts

Benefits made easier.

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Health Savings Account

We're here to simplify saving for healthcare.  


Plan ahead to cover unexpected medical expenses or strategize to offset a high annual deductible with our Health Savings Account (HSA). The money you contribute to your account belongs to you immediately.
 


Your Choice

You decide when and how to spend on qualified medical expenses


Tax Advantages

Fund your account through

tax-deductible contributions


No "Use It or Lose It" Condition

Don't stress about spending it all in a year

Benefits & Features
  • All eligible contributions are made to your HSA with pre-tax dollars, reducing your taxable income.
  • No service charges or monthly fees.
  • Set up payroll deductions or scheduled contributions.
  • Use your HSA debit card to pay for qualified healthcare expenses.
  • Convenient access to your HSA through online and mobile banking.
 

Contributions

 
You can contribute with one-time or recurring transfers from your checking account, roll funds over from another HSA, or even better, set up a payroll deduction option which lets you make pre-tax deductions on a regular basis.
 
The maximum amount that can be contributed to an HSA varies from year-to-year and depends on self-only coverage or family coverage. Once you reach age 55, you are entitled to make additional annual "catch-up" contributions.

Eligibility

 
You can open an HSA if:
  • You have a qualified high-deductible health plan (HDHP).
  • You don't have any other health plan that is not an HDHP (there are exceptions for certain plans that provide specified kinds of coverage such as dental or vision care).
  • You're not enrolled in Medicare or other federal or state benefits.
  • You cannot be claimed as a dependent on another person's tax return.

Customer Testimonials

Better Benefits for Your Business

 
Need a plan for employees to pay for healthcare expenses? Our HSA is a great option. Get in touch today to learn more.
 
Important: Camden National Bank does not provide tax advice. Please consult your tax advisor to determine eligibility for this account and any tax implications it may have.