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A Health Savings Account (HSA) is a great way for individuals with high deductible health insurance policies to fund and pay for medical expenses on a tax-favored basis. If you are enrolled in a high-deductible HSA-eligible medical insurance plan, Community West Bank can help make your health care more affordable. HSAs offer tax-free interest on funds, tax-deductible employee deposits, and tax-free employer contributions. Qualified medical expenses can be paid tax-free using checks or debit cards. With a low opening deposit, you can easily access and manage your HSA online. Unused funds remain in the account, continuing to earn tax-favored interest, with additional “catch up” contributions allowed for those 55 and older. Monthly statements provide detailed information on contributions, payments, and interest earned.
| Features | Health Savings Account |
|---|---|
Description |
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Minimum Opening Deposit |
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Monthly Service Charge |
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Minimum Balance to Waive Service Charges |
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Interest Earning |
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Transaction Limits |
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Benefits |
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| Features | Description |
Minimum Opening Deposit |
Monthly Service Charge |
Minimum Balance to Waive Service Charges |
Interest Earning |
Transaction Limits |
Benefits |
|---|---|---|---|---|---|---|---|
| Health Savings Account |
|
|
|
|
|
|
|
(1) eStatements require a valid email address and enrollment.
(2) You should consult your tax advisor regarding the tax benefits of contributing to a Health Savings Account. To ensure your contribution is credited to the appropriate taxable year, we recommend contributions be made in cash or its equivalent at a Banking Center near you.
(3) Refer to rate sheet for current information.
Please Note: This information is accurate as of April 1, 2024. Refer to "Understanding Your Deposit Account” for terms and conditions and account disclosures. Community West Bank reserves the right to make changes at any time as a result of a change of policy, law, and regulation or otherwise.
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Flexible and easy to use, an HSA is a tax-advantaged account that enables you to take charge of your health, your savings and your future
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