Health Savings Account Overview
You shouldn’t have to 'break the bank' to pay for medical expenses. We’ll help you stay prepared.
Health Savings Accounts let you earn interest on your savings. No income taxes (federal or state) or penalties when you withdraw funds to pay for qualified medical expenses.
There are no restrictions around who can contribute to your HSA. Contributions can come from you, an employer, or anyone else who wants to add to your HSA.
Here's what you need to know.
Health Savings Account
- Earns interest
- $100 Minimum opening deposit
- No federal taxes on your earnings when you withdraw funds to pay for qualified medical expenses
- No restrictions on who can contribute to your HSA
- Must me covered by HDHP (High Deductible Health Plan) and not enrolled in Medicare
The interest rate and annual percentage yield may change at our discretion at any time. Interest will be accrued daily and credited to your account monthly. If the account is closed before interest is credited, you will not receive the accrued interest. Annual 2021, contribution limit: $3,550 for Individuals, $7,100 for Families.
Looking to make a big purchase but prefer to hold onto your cash? b1BANK’s Secured Loans allow you to do just that.See Secured Loans
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We have the tools and accounts you need to move your finances forward. Here are a few to help you as you pursue your financial goals.
We go wherever you go.
b1BANK Mobile Banking is available exclusively to b1BANK Internet Banking customers. Mobile Banking allows you to manage and access your account anytime, anywhere from any device.
- Free to b1BANK customers
- Access and manage accounts anytime
- Secure access
- Transfer funds
- Review account histories
- Access online bill payment
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