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Health Savings Accounts

Health Savings Accounts

HSA for Individuals

An HSA is a tax-exempt account available to certain qualifying individuals that helps offset the up-front costs associated with a high-deductible health plan (HDHP)*. We offer these accounts to members to help ease the strain of rising health care costs.

With a Texas Trust HSA you can:

  • Contribute money that earns tax-free interest.
  • Carry forward deposits from year to year. Since you never forfeit your contributions, an HSA is the perfect tool to save for future medical expenses.
  • Qualify for a tax deduction if the money is used to pay for certain medical expenses.
  • Designate savings to cover medical expenses for immediate family members.
  • Retain your HSA if you change jobs, retire or leave the workforce.
  • Use a Texas Trust Mastercard® Debit Card or checks to pay for qualifying expenses if you open an HSA Checking Account.

Certain eligibility requirements do apply, so consult your tax advisor or plan administrator - and then make Texas Trust your HSA partner. Visit or call any branch to learn more.

HSA for Employers

If your company offers High Deductible Health Plans (HDHP)* or if your company is thinking about going to a HDHP, Texas Trust is your local and convenient choice for your employees' Health Savings Accounts (HSA). This benefit is free for employees and to you as the employer. To save on company downtime, employees can even open accounts at your place of business during designated time frames. An HSA is the perfect tool for employees with HDHPs to save for future medical expenses.

With a Texas Trust HSA, your employees could:

  • Set aside a portion of their paychecks for their HSA through direct deposit.
  • Qualify for a tax deduction if the money is used to pay for certain medical expenses.
  • Designate savings to cover medical expenses for immediate family members.
  • Carry forward balances from year to year or employer to employer for as long as a HDHP is offered, because contributions are never forfeited.
  • Retain their HSA upon retirement, a job change, or if they leave the workforce.

Changing to a High Deductible Health Plan can be challenging. When you make Texas Trust your HSA partner, we will take the headache out of the change and make it convenient for your HR staff and employees.

Call us today for more information.

*High deductible health plan (HDHP) description may be found in 2005 IRS publication 969 and may be subject to revision of applicable statutes.

See our Truth in Savings disclosures: Share Accounts (Savings and Checking). You may also be interested in Savings/CDs options.

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