Health Savings Account

The Hsaver® Account

Save money for future medical expenses with a Health Savings Account (HSA) at Clear Mountain Bank.

You and your employer can make contributions up to a certain amount and personal contributions are tax-deductible. The account offers first and second tier requirements and rates.

Those eligible for an HSA:

Have medical coverage under an HSA-qualified “high deductible health plan” (HDHP)
Have no other first-dollar medical coverage
Are not enrolled in Medicare
Are not claimed as a dependent on someone else’s tax return

Account Features

Enjoy the security of protection against high medical bills.
Save money on insurance premiums by switching to coverage with a higher deductible.
Earn money on funds with a competitive interest rate.
Customer controls how much money to put into the account, which expenses to pay, and whether or not to invest any of the money in the account.
Customer retains the HSA even if they change jobs or medical coverage, become unemployed, move or change marital status.
Funds remain in the account from year to year, just like an IRA.
Customer receives tax-deductions on contributions, tax-free earnings through investment, and tax-free withdrawals for qualified medical expenses.
Can also be used for dental and vision related costs.
Enjoy peace of mind with FDIC insurance coverage up to $250,000.
Customers receive a HSA Mastercard® debit card.