Personal Savings, Money Market, Certificates of Deposit and Individual Retirement Account Accounts
Health Savings Account
A Health Savings Account (HSA) is an interest-bearing Federally Qualified tax-deductible, tax-deferred and tax-free a count d esigned for consumers for eligible medical expenses. These accounts were created to help give consumers more control in managing their healthcare costs.
In order to open a HSA, you must have a qualified High Deductible Health Plan. The best part about HSAs is that they are portable. If you switch jobs, the HSA stays with you. Your money can roll over each year, without the 'use it or lose it' requirement.
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- Minimum opening deposit: $0
- Minimum collected daily balance: $0
- Interest calculated: Daily
- Interest paid: Monthly
- Monthly maintenance fee: $0
- Set up fee: $0
- Access: BlueRidge Bank Health Savings Card or Health Savings Check
($5 fee for check order if both access devices requested)
- Electronic Statements: Yes
- Paper Statements: Yes, with $5.00 monthly fee if concurrently enrolled in Online Banking
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