HSAs

A Health Savings Account (HSA) allows you to provide your employees with a tax-advantaged* way to pay for healthcare. It offers flexibility, easy ways to access funds and lets employees use pre-tax* dollars. Plus, a HSA is your employee's account so they can use it next month, next year or 20 years from now as long as the account has funds.

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HSA Savings Account

• $50.00 minimum deposit to open
• Earn 0.10% interest and APY on your balance
• Funds rolls over year to year
• Free Telephone Banking
• FDIC insured up to $250,000
• Click here for account fees

Visit a Pioneer Bank branch to open an HSA Checking or HSA Savings Account.

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HSA Checking Account

• $50.00 minimum deposit to open
• Funds rolls over year to year
• Free Telephone Banking
• FDIC insured up to $250,000
• Click here for account fees

Visit a Pioneer Bank branch to open an HSA Checking or HSA Savings Account.

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Eligible individuals covered under high-deductible health plans may open an HSA and use the money tax-free (including earnings) to pay for qualified medical expenses.

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Eligibility

• You must be covered by a high deductible health plan (HDHP) on the first day of a month to qualify for eligibility for that month.
• You must have a minimum deductible of $1,300.00 for individuals or $2,600.00 for families.
• Your annual out-of-pocket expenses (including deductibles and co-pays) cannot exceed $6,550 for individuals or $13,100.00 for families.
• Maximum contribution cannot exceed annual alloted amount. 
• A person age 55 or older may make an additional $1,000.00 in "catch-up" contributions.
• You cannot be covered by any other health plan that is not an HDHP.
• You cannot be enrolled in Medicare.
• You cannot be claimed as a dependent on someone else's tax return.
• There are no eligibility restrictions regarding income level and there is no requirement of earned income to make contributions.

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