Why a Health Savings Account?

A Health Savings Account (HSA) is a great solution for lowering health insurance costs and saving for future medical expenses while providing you with security, affordability, flexibility, savings, control and portability! YOU decide how much money will go into your account (up to the maximum limits) and which expenses to pay for from this account.

What happens if I don’t use the money I’ve saved?

There are no "use it or lose it" rules – the funds stay in your HSA from year to year, just like an IRA. The account is completely portable – meaning you can keep your HSA even if you change jobs, change your medical coverage, become unemployed, move or change marital status.

How can I participate?

To participate in a Vantus Bank HSA:
  • You must be enrolled in a qualified high deductible health insurance plan (HDHP) with an annual deductible of at least $1,100 for an individual and $2,200 for two or more family members. Maximum annual out-of-pocket for in-network expenses cannot exceed $5,500 for an individual or $11,000 for two or more family members.
  • You cannot be covered by a low-deductible plan that provides coverage for a benefit that is covered by the HDHP.
  • You cannot be enrolled in Medicare.
  • You cannot be a dependent on another person’s tax return.
  • You cannot have received VA medical benefits at any time over the past three months.
Will An HSA Lower My Health Insurance Premiums?

HSAs are only available for people who have a Qualified High Deductible Health Plan (HDHP). Such plans typically have premium rates that are far less expensive than traditional low deductible health plans – so you save money immediately.

Will An HSA Help Me Save Money On My Taxes?

HSAs provide tax deductions when you contribute to your account, tax-free earnings, and tax-free withdrawals for qualified medical expenses!

I’m a business owner. Can you help me set up HSAs for my employees?

We are glad to assist employers by meeting with their employees to conduct HSA sign-ups. We will take care of the entire process from start to finish. It’s that simple.