Tower Bank•HSA Benefits/Features

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HSA Benefits/Features

Benefits of switching to an HSA/HDHP Healthcare Program.

Lower insurance premiums
Savings from premiums help fund HSA
Both the employer and employee can make contributions
All HSA deposits are made with tax-advantaged dollars
Unspent contributions roll over from year to year (no use-it-or-lose-it provision)
Employers’ FICA savings on contributions
More advantages than a Medical Savings Account (MSA)

Tower Account Features:

Checking Account: Your HSA deposits are held in your name at Tower Bank. You will receive a monthly account statement that details all contributions and withdrawals. If you have written checks to cover healthcare expenses, you will receive images of the cancelled checks with your statement. Your account balances are FDIC insured up to the maximum provided by law.

VISA^® Debit Card: You may also choose a Visa Debit Card to make Qualified Healthcare purchases anywhere VISA is accepted. Purchases will be automatically deducted from your HSA. A second card may be issued to your authorized signer.

Checks: Unique HSA checks are available for you to pay Qualified Healthcare Expenses. An authorized signer may also use these checks.

Order checks now – Reorder personal checks online through Deluxe Corporation, the leader in personalized checking.

Interest Rates: Your account will earn interest on all balances. For more information, see our fee schedule.

Online Access: You will have access to view your account balances, activity and check images by signing up for online banking.

Customer Care: To provide you with the best service possible, you may choose to use our toll-free automated services (1.888.743.0737) or call our Customer Care center (1.877.427.7220) to talk to an expert who will answer your deposit account questions.

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