American Commerce Bank offers Health Savings Accounts. An HSA is a unique, tax-advantaged savings plan that can be used to pay for qualified healthcare expenses. Available to customers with high-deductable healthcare plans, HSAs provide opportunity for both tax savings and long term cash accumulation. Unlike Flexible Spending Accounts (FSAs), funds contributed to an HSA can accumulate indefinitely.
HSA funds can be used to pay health insurance deductibles and qualified medical expenses, including charges not covered by a health insurance plan, such as dental or vision care.
2020 HSA contribution limit is $3,550 per individual, $7,100 per family
Simple reporting requirements
Qualified Tax Savings
Employers can contribute on behalf of employees
Potential for long term savings accumulation
Withdrawals can be made for non-medical purposes at age 65
You are now leaving American Commerce Bank website. American Commerce Bank (including its directors, shareholders, employees, and affiliates) is not liable or responsible for the content, information, security, or failure of any products or services promoted or advertised on this third party site.
Notice: Because there is a risk that information transmitted via Internet email could fall into the wrong hands, American Commerce Bank suggests that confidential information, such as account numbers or social security numbers, not be transmitted via email. Instead, please contact American Commerce Bank directly at your nearest bank branch.