Health Savings Account
Citizens Bank realizes that immediate out-of-pocket health care expenses can be a struggle for customers who are covered by a High Deductible Health Plan (HDHP). That’s why we offer the Citizens Bank Health Savings Account, a custodial checking account designed with tax benefits to assist those covered by a HDHP. These funds can be used to cover qualified individual or family health care expenses.
- Be covered by a high deductable healthcare plan (HDHP).
- Not be covered by any other healthcare plan that is not an HDHP.
- Be at least 18 years of age.
- Not be claimed on another person’s tax return.
- Discontinue contribution once you have enrolled in Medicare or are no longer covered by a HDHP.
All you need to open a Citizens Bank Health Savings Account is an initial $25.00 deposit.
- No monthly service charge
- No minimum balance required
- Free HSA debit card*
- Free Internet Banking
- Free first box of personal checks
- Free E-Statements
- Complete access and control
- Tax deductible deposits
- Tax-free earned interest
- Tax-free withdrawals made for qualified medical expenses
- Worry-free year-to-year carryover
- FDIC Insured
Benefits are subject to change.
*Replacement fee may apply
For additional information about Citizens Bank's Health Savings Account, please call Coleda at 870.698.6296.