Health Savings

Health Savings Accounts – Altoona, PA & Duncansville, PA

from Investment Savings Bank

Uses:

A HSA gives working individuals a tax-sheltered way to save for medical expenses.

Availability:

  • Any individual that is covered under a High Deductible Health Plan (Minimum Annual Deductible of at least $1,300 and a $6,550 cap on out of pocket expenses – single coverage; Minimum Annual Deductible of at least $2,600 and a $13,100 cap on out of pocket expenses – family coverage).
  • Not be covered under any other health plan that is not part of the High Deductible Health Plan.
  • Not be enrolled in Medicare.
  • Not claimed as a dependent on another person’s tax return.

Benefits:

  • You may be able to claim a tax deduction for contributions you, or someone other than your employer, make to your HSA even if you do not itemize your deductions on Form 1040.
  • The contributions remain in your account from year to year until you use them.
  • The interest or other earnings on the assets in the account are generally tax free.
  • Distributions may be tax free if you pay qualified medical expenses.
  • An HSA is “portable” so it stays with you if you change employers or leave the work force.

Minimum Investment:
$25.00

Maximum Investment:
– $3,450 annually for self coverage (under age 55); $6,850 annually for family coverage (under age 55).
– No limit on amounts transferred or rolled-over from existing HSA.
– Plus (+) Additional “Catch-Up” contributions are available to individuals 55 years or older.

Account Type:
Variable Rate Account.

Frequency of Rate Changes:
We may change the interest rate on your account at any time.

Access to Account:

  • Funds for medical expenses may be written by any of the following;
  • Writing a check
  • ACH Debits (example: Insurance Premiums)

Insurance:

All funds are insured up to $250,000 by the FDIC.

Health Savings Accounts (HSA)

AccountMinimum Balance to Obtain APYInterest RateAnnual Percentage YieldDisclosure
Health Savings$0.01*0.35%*0.35%Click

*The rate may change after the account is opened.
Penalty for Early Withdrawal if under 59 1/2 years old.

*** RATES SUBJECT TO CHANGE AT ANYTIME WITHOUT NOTICE ***

Altoona Office
1201 8th Avenue
Altoona, PA 16602
Phone: (814) 944-0843
Fax: (814) 942-6821
Email: click here

Lobby Hours
MON-FRI: 9am – 4:30pm

Drive Up Hours
MON-THU: 8:30am – 5pm
FRI: 8:30am – 6pm
SAT: 9am – 12pm

Holiday Hours

Duncansville Office
201 Patchway Road
Duncansville, PA 16635
Phone: (814) 695-7551
Fax: (814) 695-1369
Email: click here

Lobby Hours
MON-FRI: 9am – 5pm

Drive Up Hours
MON-THU: 9am – 5pm
FRI: 9am – 6pm
SAT: 9am – 12pm

Holiday Hours

After Hours
To report a lost or stolen debit card
after business hours, please call
1-800-554-8969.

To report a lost or stolen credit card
after business hours, please call
1-800-325-3678.

For credit card balance inquiries
after business hours, please call
1-800-299-9842.

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