Health Savings Account (HSA)
Tax Advantages
Control Healthcare Costs
Save for Retirement
 
A Health Savings Account (HSA) from Capital Bank is a great way to save for your health care deductible, while taking advantage of tax savings. This account includes the following:
- Unlimited QuickCheck Debit Card transactions
- Tiered interest rates
- Personalized Health Savings Account debit card
- No monthly fee
- Bill Payment capability
If you meet the following criteria in any one month, you are eligible:
- You are covered under a high-deductible health plan (HDHP) on the first day of that month;
- You are not covered under another type of health plan that is not an HDHP (certain exceptions apply);
- You are NOT enrolled in Medicare (generally, are under 65 years old);
- You may not be claimed as a dependent on another individual's tax return.
Once you have met the requirements, anyone may contribute to your HSA, regardless of your employment status. 100% of your contribution is deductible. Furthermore, the earnings grow tax deferred and all qualified distributions are tax-free. Be sure to consult with your tax or legal professional for guidance.
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