Health Savings Account (HSA)
Effective November 20, 2018, we are pleased to announce our partnership with HealthEquity for Health Savings Accounts.
Benefits of HSA's include:
- Save money on taxes through the HSA triple advantage
- Invest your HSA funds to optimize earnings potential
- Increase your HSA balance with rollover funds each year
- Connect with HealthEquity Member Services every hour of every day
- Treat your HSA like your 401(k) after age 65
- Employees can contribute an additional $1,000 each year beginning in the year in which they turn 55
Ready to open a new HSA account with HealthEquity? CLICK HERE.
If you are a previous Sonabank HSA customer and have any questions about your transition to HealthEquity please contact HealthEquity at 866-346-5800 or visit their website.
1. HSAs are never taxed at a federal income tax level when used appropriately for qualified medical expenses. Also, most states recognize HSA funds as tax-free with very few exceptions. Please consult a tax advisor regarding your state’s specific rules.
2. Investments available to HSA holders are subject to risk, including the possible loss of the principal invested and are not FDIC insured or guaranteed by HealthEquity, Inc. HealthEquity, Inc. does not provide financial advice. HSA holders making investments should review the applicable fund’s prospectus. Investment options and thresholds may vary and are subject to change. Consult your advisor or the IRS with any questions regarding investments or on filing your tax return. Copyright © 2018 HealthEquity, Inc. All rights reserved.