HSA
Start saving for your health! State Bank of Taunton offers Health Savings Accounts (HSA’s). An HSA offers an easy way to help individuals or families save money for the cost of medical related expenses. See below for more information.
Health Savings Account (HSAs)
A health savings account (HSA) combines high deductible health insurance with a tax-favored savings account. Money in the savings account can help pay the deductible. Once the deductible is met, the insurance starts paying. Money left in the savings account earns interest and is yours to keep.
2016 HSA Contribution Limits, Deductibles, and Out-of-Pocket Expenses
| Minimum Deductible | Maximum Out-of-Pocket | Contribution Limit | 55+ Contribution | |
|---|---|---|---|---|
| Single | $1,300.00 | $6,550.00 | $3,350.00 | $1,000.00 |
| Family | $2,600.00 | $13,100.00 | $6,750.00 | $1,000.00 |
| Single | Family | |
|---|---|---|
| Minimum Deductible | $1,300.00 | $2,600.00 |
| Maximum Out-of-Pocket | $6,500.00 | $13,100.00 |
| Contribution Limit | $3,350.00 | $6,750.00 |
| 55+ Contribution | $1,000.00 | $1,000.00 |
How To Enroll in a HSA
See a customer service representative today.
