Health Savings Account
These tax-deferred accounts are designed to pay the qualified medical expenses of the HSA owner, spouse and dependents. In order to be eligible for this type of account you must be:
- Covered by a high deductible health plan or HDHP (please check with your insurer or employer to determine if your plan is HSA eligible)
- Not covered by another health plan that is not an HDHP
- Not enrolled in Medicare
- Not eligible to be claimed as a dependent on another person’s tax return
You can use the funds in the account to pay for qualified medical expenses, such as:
- Co-pays
- Deductibles
- Hospital costs
- Prescription medications
- Some dental and vision expenses
- Some over the counter (OTC) medications provided they are prescribed by a medical professional
You can open your health savings account by calling us at 901-380-7400, stopping by any of our banking centers or clicking the "Open account" button below!
