If you are enrolled in a High Deductible Health Plan then you may be eligible to open a Health Savings Account (HSA). A FAIRWINDS HSA offers simple terms and great rates. Combined with the tax advantages of an HSA there has never been a better time to open one.

Tax Advantages

  • Contributions may be 100% tax deductible
  • Withdrawals to pay for qualified medical expenses are not taxed
  • Interest earnings accumulate tax-deferred, and if used to pay qualified medical expenses, are tax-free

Added Benefits

  • Savings – unlike healthcare premiums, unused HSA dollars remain in the account and earn interest until used
  • Flexibility – the savings account can be used to pay for a broad variety of services including dental, vision and prescription medication
  • Portability – the savings account is yours regardless of job change
  • Timeless – there is no requirement to use the funds by a certain time each year so your balance can roll over and not be forfeited

Retirement Central®

Through the FAIRWINDS Retirement Central, enjoy the convenience and security of conducting online transactions to your Health Savings Account including withdrawals, rollovers, and contributions. Submit and save your e-signed forms 24 hours a day, 7 days a week, wherever you are.

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Rates as of: 5/4/2015 - 5/10/2015

Health Savings Account: Interest Rate APY
$.01 - $2,999.99 0.10% 0.10%
$3,000.00 - $4,999.99 0.15% 0.15%
$5,000.00 - $9,999.99 0.20% 0.20%
$10,000.00 + 0.25% 0.25%

In order to open a Health Savings Account you must currently participate in a High Deductible Health Plan.

Account set-up: $10.00

Monthly maintenance: $2.50

Excess contribution, per return: $10.00

Additional HSA debit card: $5.00

APY = Annual Percentage Yield
Rates may change after the account is opened. Fees can reduce earnings on the account.

Health Savings Accounts

Balancing rising health care costs