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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 and qualified withdrawals are tax-free
- Unspent contributions roll over from year to year (no use-it-or-lose-it provision)
- Employers’ FICA savings on contributions
- HSAs are portable so individuals keep 100% of funds upon change of employment
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. Your account balances are FDIC insured up to the maximum provided by law.
ATM/Debit Card: You may also choose an ATM/Debit Card to make Qualified Healthcare purchases. Regular transaction fees will apply. 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 a tiered schedule based on balance. For more information, see our fee schedule.
Online Statements: Review your HSA account statements online.
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.
