Health Savings Account For Physicians
One Rewarding HSA Account
Health Savings Account
Physician Bank’s Health Savings Account (HSA) is an interest-bearing account designed to help eligible individuals save for current and future qualified medical expenses. It is used in conjunction with a High Deductible Health Plan from your insurance provider.
HSA FEATURES
- $50 minimum deposit to open account, waived if regular ACH deposits established at account opening
- Earn interest on the full balance of your HSA with tiered interest
- $30 setup fee ($20 setup fee if done online); to be paid at the time HSA is established, may be deferred for up to 30 days
Additional Features and Requirements
- Variable interest rate may change daily; Interest calculation is based on daily (collected) available balances and is compounded monthly
- Free eStatements or $4 per month if paper statements are mailed
- One free debit card (additional cards $10 each); no checks with account
- Overdrafts & NSF: $33 per item*
- $30 fee if account is closed within 6 months of opening
- Transfer money electronically to or from your account…anytime, online**
- External Transfer: $30
- IRS corrections: $10
- Excess contributions: $20
- Make tax-free distributions from your HSA for qualified medical expenses using:
- Debit card at merchants and service providers
- ePay online bill pay
- In bank withdrawal—$10.00 each
*Overdrawing your HSA will cause the plan to be disqualified by the IRS.
** Please consult your tax preparer for eligibility and contribution limits.
** Please consult your tax preparer for eligibility and contribution limits.
Juanita Schmunk
Physician Private Banker
- NMLS #2264168
- juanita@www.physicianbank.com
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Financial tools and services for physicians in all 50 U.S. states. Contact us today to learn more.
The 100% financing option while we started our first post-residency job, their rapid and efficient response rate to our questions and our numerous changes in schedule that occurred with our builder, and the absence of PMI were all extremely helpful.
Dr. David Ogden, UT