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Health Savings Account (HSA)

What is a Health Savings Account?

A Health Savings Account (HSA) is designed to help eligible individuals with a High Deductible Health Plan (HDHP) save for qualified medical expenses on a tax-advantaged basis. An HDHP is a health insurance plan that generally offers lower premiums in exchange for a higher deductible. Individuals can save by contributing money saved on premiums to their HSA and then using the money to pay for medical expenses. Compare savings options.

Benefits of a Health Savings Account

  • Ownership and control of your account – even if your employer contributes to it.
  • Tax-advantaged contributions, earnings and withdrawals for qualified expenses.*
  • Protection against high or unexpected medical bills
  • Funds roll over from year to year – no need to worry about using up the balance by year-end.

Victory Community Bank offers an HSA as an interest-bearing checking account. Our HSAs are easy to set up, access, and maintain.

Features and Advantages of a Victory Community Bank HSA

  • No account opening fee
  • Tiered premium rates of interest
  • No minimum deposit is required to open your HSA account
  • No monthly fee if average daily balance of $500 is kept in account. $5 per month if average balance falls below $500.
  • No annual fee on your HSA Debit MasterCard®
  • Unlimited ATM/debit card transactions
  • Unlimited no surcharge ATM withdrawals at all US Bank branch ATMs.
  • 4 free non Victory Community Bank ATM withdrawals per month. You may be charged a terminal fee by another bank when using your card at their ATM when making cash withdrawals and/or balance inquiries.
  • eStatements available
  • Free Online Banking

* For more information on HSAs and HDHPs, visit the Department of the Treasury website.