Health Savings Accounts – an Investment in your Wellbeing March 04, 2026 If you’re enrolled in a High Deductible Health Plan (HDHP), you may be eligible for one of the most powerful — and often overlooked — financial tools available: a Health Savings Account (HSA). What Is an HSA? An HSA is a special savings account designed to help you pay for qualified medical expenses — both now and in the future. It works a lot like a regular savings account — but with significant tax advantages. How can an HSA help you save on taxes? You save on taxes. You may be able to make pretax contributions through your employer. If you make contributions after-tax dollars, they're deductible from your federal income tax (and perhaps from your state income tax) whether you itemize or not. You can also deduct contributions made on your behalf by family members. Your money grows tax-free. Contributions to your HSA, and any interest or earnings, grow tax deferred. Depending on the state, HSA contributions and earnings may or may not be subject to state taxes. Withdrawals are tax-free for medical expenses. When you use your HSA for qualified healthcare expenses — like doctor visits, prescriptions, dental care, or vision costs — you won’t pay taxes on those withdrawals. Consult a tax professional if you have questions about the tax advantages offered by an HSA. Can I Open an HSA? To qualify for a Health Savings Account, you must be: Covered under a High Deductible Health Plan (HDHP) on the first day of the month Not covered by other health plans, including a spouse's health plan, and in some cases, a spouse's Flexible Spending Account (FSA) Not enrolled in Medicare Not claimed as a dependent on someone else's tax return Already Have an HSA? Make Sure You’re Contributing. If you already have an HSA, the key is to fund it. Even small, consistent contributions can make a difference over time. Contributing regularly helps you: Prepare for unexpected medical expenses Reduce your taxable income Build a dedicated healthcare cushion for the future There’s Still Time to Fund Your 2025 HSA. Contributions Can be Made through April 15, 2026, with limits of $4,300 for individual coverage and $8,550 for family coverage. This annual limit applies to all contributions, whether they're made by you, your employer, or your family members. If you're 55 or older, you may also be eligible to make "catch-up contributions" to your HSA, but you can't contribute anything once you reach age 65 and enroll in Medicare. Remember, unused funds roll over year after year — there’s no “use it or lose it.” The more you contribute (within annual IRS limits), the more you can benefit from the tax advantages and long-term growth potential. If you’re enrolled in an HDHP and not contributing yet, now is a great time to start. Why Open or Grow Your HSA With Us? A Community First HSA is designed to help you be healthy, wealthy and wise! For a one-time $25 enrollment fee, you can: Earn a high dividend rate on all of your balances with no tiers Make in-person deposits and receive service locally Pay no monthly administrative or service fees Receive a dedicated Visa® debit card Make the Most of Your HDHP If you’re enrolled in a High Deductible Health Plan, don’t leave this benefit on the table. Schedule an appointment to open your HSA today! Schedule an Appointment