With medical costs continually rising, Health Savings Accounts (HSAs) help you pay those bills with pre-tax dollars – so you get even more out of your money. Your unused HSA funds can grow each year, which helps you save for future medical expenses. Here’s how it works. When you open a Health Savings Account, we set up two accounts for you: HSA savings and HSA checking. When you need to pay an eligible bill, you simply write a check from your HSA account or pay with your debit card. We transfer funds from your HSA savings account to cover that amount. Features & benefits Tax-deferred investment earnings Free initial order of checks Your dollars remain tax free – as long as you’re paying for qualified medical expenses Annual service fee Debit card for your account You must meet eligibility requirements first. To be eligible to open a Health Savings Account, you must meet all of the following requirements: Covered under a high deductible health plan (HDHP) on the first day of the month Generally not covered by any health plan that is not an HDHP (exceptions exist for coverage that is not part of an HDHP for accidents, disability, dental care, vision care, long-term care, or permitted insurance) Not enrolled in Medicare Not able to be claimed as a dependent on another person’s tax return Use pre-tax dollars to pay medical bills. When you open a health savings account, you help to plan for future healthcare expenses. Visit the HSA Service Center Savings Resources See More Resources Health Savings Account FAQs Frequently asked questions about Health Savings Accounts. Your Money Or Your Health? Managing your money is a lot like managing your health. Building an Emergency Fund Your emergency fund will allow you to tap into your cash reserves instead of paying with credit cards, skipping payments and bills, or selling assets.