Health Savings Account
Don’t let financial worries about medical expenses take the focus off your health. Our Health Savings Account (HSA) is here to put your well-being first. If you have a High-Deductible Health Plan, this tax-deductible account is designed to cover qualified current and future medical costs without any monthly service or transaction fees.
Helping You Focus on Your Health
With a Thomaston Savings Bank HSA, you can save for your healthcare needs and get peace of mind knowing that your money is growing tax-deferred and can be withdrawn tax-free for qualified medical expenses. With free checks, an HSA Visa® Debit Card, and complimentary Online Banking and Bill Pay services, managing your healthcare expenses is effortless. Plus, our HSA offers tiered rates, so the more you save, the more you earn. Your health, your finances, all in balance.
Health Savings Account Highlights
Save for qualified medical expenses: You can use your HSA to pay for qualified medical expenses, such as deductibles, copays, coinsurance, and prescription drugs.
Tax-advantaged savings: Your HSA contributions and earnings are tax-free, so you can withdraw your money tax-free to pay for qualified medical expenses.
No monthly service or transaction fees: There are no monthly service or transaction fees associated with your HSA.
Helpful management tools: You'll receive free checks, an HSA Visa® Debit Card, and free Online Banking and Bill Pay services to help you manage your HSA.
Tiered rate product: Our HSA is a tiered rate product, so you can earn more interest when you save more.
Health Savings Account (HSA) Contribution Limits
| Tax Year | Self-Only Coverage | Family Coverage | Catch-Up (age 55 or older) |
|---|---|---|---|
| 2023 | $3,850 | $7,750 | $1,000 |
| 2024 | $4,150 | $8,300 | $1,000 |
Current Health Savings Account (HSA) Rates
How to Make the Most of Your Health Savings Account
Learn about the many attractive features of the Health Savings Account and how they might benefit you.
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Get in Touch
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