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A Healthy Way to Manage
 Medical Expenses

Healthcare costs are rising.  Wouldn't it be nice if you could set aside money to cover your medical expenses, tax free? You can, with a Heath Savings Account (HSA) from Cambridge State Bank.  If you are enrolled in a high deductible health plan, an HSA offers the tax advantages associated with a Flexible Spending Accounts and Health Reimbursement Accounts and enables you to spend the money you save, as you choose. 

 
Your HSA funds will be deposited into a custodial account, where they will earn interest.  Cambridge State Bank, an FDIC-insured, Minnesota state chartered financial institution, will service your account.

Please refer to the IRS Contribution/Deductible Guidelines sheet for the specific dollar amount you may contribute during the plan year.

Only individuals covered by a high deductible health plan are eligible to contribute to an HSA; however, should you switch from your high deductible health plan, the money in your HSA is yours to keep or transfer to another qualifying account.  Should you choose to transfer your account, you must do so within 60 days to avoid a penalty.

Health Savings Account
Account Name Opening Balance Minimum Balance Monthly Service Charge Interest Bearing
Health Savings Account None None No monthly charge based on account balance Yes
Health Savings Account
Amount to open None
One time set up fee None
Monthly fees No monthly fee based on account balances
Checks $12.00 for 25 duplicate checks or $16.00 for 50 duplicate checks and 20 deposit tickets.
Debit card No fee for debit card(s); replacement card $5.00
Interest Interest is paid on a tiered rate. Save more, earn more.
Transaction limitations No limit on point of sale signature based transactions. No limit on checks written.
Annual fees None
Fee to close $25.00 to close
Excess contribution removal fee Due to regulatory requirements if you exceed the maximum contribution and you must withdraw the excess contributions, there is a $20.00 fee.
Statements Monthly Imaged Statement   Images are also available via our Free Online Banking for up to 60 days.
 
Additional Fees Additional Fees may apply. See Personal Banker for details.

Quick Links

Learn about the advantages of a Health Savings Account (HSA).


Do you have questions about Health Savings Accounts?


Know the Eligibility Rules

Health Savings Account Opening Procedures


2012 & 2013 Contribution Limits


What Medical Expenses are Eligible?


What Medical Expenses are Not Eligible?

Health Savings Account Flyer

 

 

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127 South Main Street - 127 Opportunity Blvd N
Cambridge, MN  55008
Routing Number: 091911409


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