Health Savings Account
Colorado Business Bank offers a Health Savings Account (HSA) for your employees. If you already have a
high-deductible health plan in place or are going to offer one in the future, you may want to consider
adding a HSA as another health care option for your employees. HSAs are interest-bearing bank accounts
that you and/or your employees put money into to save for future medical expenses. HSAs offer a number of
advantages, including:
- Affordability - Health insurance plans with higher deductibles typically offer lower premiums.
- Flexibility - Funds in the HSA can be used to pay for current medical expenses – including those
that insurance may not cover – or to save for future needs. In addition, they roll over year to year.
- Portability - HSAs are completely portable, so an employee can keep the account even if they change jobs or medical coverage.
- Tax savings - A HSA provides your employee triple tax savings:
- Pre-tax contributions
- Tax-free earnings with our Interest Checking Account
- Tax-free withdrawals for qualified medical expenses
Contact your banker or customer service manager for more information.
Equal Housing Lender