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YOUR GUIDE TO HEALTH SAVINGS ACCOUNTS
TAKE CONTROL OF HEALTH COSTS
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Take control of your health care expenses with a Health Savings Account from Profinium. An HSA lets you set aside pre-tax dollars to pay for qualified medical, dental, and vision expenses — now and in the future. With tax advantages and the ability to earn interest, it’s a smart way to save and manage your health care costs.
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No Monthly Service Fee or Annual Fee
Tiered APY: Earn 3.00% Annual Percentage Yield on balances equal to or greater than $20,000.00
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Maximize Your Tax Savings*
Why Choose a Profinium HSA?
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Tax Benefits: Contributions are tax-deductible, and withdrawals for qualified expenses are tax-free. Plus, earnings grow tax-deferred.
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Flexible Spending: Use your funds for a wide range of eligible expenses, including prescriptions, doctor visits, dental work, and vision care.
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Earn Interest: Your HSA balance earns competitive interest, helping your savings grow over time.
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Easy Access: Manage your account online anytime and anywhere, with tools to track your expenses and payments.
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Portable Account: Your HSA stays with you even if you change jobs or health plans.
Who Is Eligible?
To open an HSA, you must be enrolled in a high-deductible health plan (HDHP) and meet other IRS requirements. Our team can help you understand if an HSA is right for you.
How to Open an Account
Opening an HSA with Profinium is simple. Contact one of our Relationship Bankers to get started or apply online. We’ll guide you through the process and help you maximize the benefits of your Health Savings Account.
Features of Your Profinium HSA
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No annual or monthly fees
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Tiered APY that increases as your HSA balance grows
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Easy account management through our free, user-friendly online platform
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Complimentary access to our Money Pro spending and budgeting app
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Flexible access to funds anytime via check or debit card
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No minimum balance requirements after an initial $100 deposit to open
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Dedicated customer service team available to assist with all HSA-related questions
| Balance Tiers | Annual Percentage Rate Earned |
|---|---|
| Balances less than or equal to $9,999.99 | 0.50% |
| Balances between 10,000.00-19,999.99 | 0.75% |
| Balances greater than or equal to $20,000.00 | 3.00% |
Annual Contribution Limits
Contribution limits are set annually by the IRS and may change each year. Contributions are tax-free and can be made by you, your employer, or a third party.
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$4,300 for Individual Plans
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$8,550 for Family Plans
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$1,000 catch-up contribution for individuals aged 55 and older
Eligibility
Most adults under 65 who are not enrolled in Medicare and have coverage under a high-deductible health plan (HDHP) are eligible to open an HSA. However, account holders should verify their own eligibility and consult with a tax advisor for specific guidance.
Additional Information
HSA product details effective July 1, 2024. Funds can be withdrawn at any time for any purpose. Withdrawals for non-qualified medical expenses are subject to income tax and a 20% penalty. There are no minimum balance requirements after an initial $100 deposit to open the account. Fees may reduce earnings. The minimum balance to earn the APY is $0.01. Rates are subject to change without notice. Additional terms and conditions may apply.
Data rates may apply for access to online and mobile banking services, including the Money Pro spending management app.
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