- You are covered under a high deductible health plan
- You are not covered under a plan that is not a high deductible health plan
- You are not enrolled in Medicare
We will be closed on Thursday, November 28 in observance of Thanksgiving. We will be open on Friday, November 29. We wish you and your family a Happy Thanksgiving.
Health Savings Account (HSA)
Health Savings Accounts (HSAs) are an excellent way to save for medical expenses.
Contributions are tax-deductible and distributions are tax-free if used for a qualified medical expense.
HSA Features
Single plan allows you to contribute up to $4,150 to your HSA
Family plan allows you to contribute up to $8,300 to your HSA
If you are 55 or older, you can make an additional $1,000 "catch-up" contribution annually
Health Savings Account
$100 minimum to open account
Effective Date: November 19, 2024
| Deposit Amount | Interest Rate | APY* |
|---|---|---|
| $0 to $ 1,000 | 0.05% | 0.05% |
| $1,001 to $2,500 | 0.05% | 0.05% |
| $2,501 to $5,000 | 0.05% | 0.05% |
| $5,001 and above | 0.05% | 0.05% |
Please contact your Insurance Provider for more information on HSA's.
You must maintain the minimum daily balance to obtain the disclosed APY (Annual Percentage Yield). Luana Savings Bank reserves the right to change interest rates and terms without notice. You may incur a penalty for early withdrawal and fees may reduce earnings.
FAQ
Ready to get started?
Open an Account Today
Fill out a simple form and we will be happy to assist you.