Health Savings Accounts

Man­age your med­ical costs eas­i­ly with a Health Sav­ings Account.

Healthcare costs add up quickly. A Health Savings Account (HSA) is a smart way to save for healthcare related expenses including co-pays, medications AND specialist visits. With an HSA, you can reduce your tax bill and get the convenience of having a debit card to pay your healthcare expenses.

What Is A Health Sav­ings Account?

A Health Savings Account (HSA) is an interest checking account designed for individuals who participate in a high deductible health care plan and want to save, pre-tax, for future medical and retiree health expenses. You can use your HSA to pay for current qualified medical expenses that are not covered by insurance.


The HSA that meets your needs.

With A Northern Bank HSA*, we offer:

  • Competitive interest rate
  • No monthly service charge
  • No minimum balance required to maintain account
  • Mobile wallet ready H.S.A. debit card
  • Online banking with e-statements and bill pay
  • Mobile banking with mobile deposit
  • Annual statement of contributions and payments

*$25 minimum deposit to open the account. $25 account closing fee.

The tax ben­e­fits of an HSA.

  • Contributions*: are not subject to Federal or state income tax. Most states do not impose a state income tax.
  • Interest: you earn on your HSA account is tax exempt.
  • Withdrawals: to pay for qualified medical expenses are tax free deductions. You also do not have the same “use it or lose it” rule as a Flexible Spending Account (FSA) so you can let your account grow and save for future medical expenses.

*Please consult a financial or tax advisor regarding your state specific rules

Employ­er Ben­e­fits Of Offer­ing HSA

  • Payroll Tax Savings*: As an employer, you do not have to pay payroll taxes on H.S.A contributions made by your employees' payroll deductions.
  • Federal Tax Savings*: As an employer, if you make contributions to your employee HSA accounts, you may be eligible to take a federal income tax deduction on these contributions*
  • Employee Retention*: Offering a competitive benefits package that includes an HSA, that you contribute to, can help attract and retain high valued employees.

*Please consult with your company's financial or tax advisor.


Using your HSA is con­ve­nient and easy!


  • Deposit funds electronically via direct deposit from your employer.
  • Transfer funds through online banking
  • Deposit checks using mobile deposit.
  • Prior year contributions can be made through the mail.

*All deposits into your HSA are considered a current year contribution.


  • Use your HSA Northern Bank Debit Mastercard® where accepted for qualified medical expenses.
  • Write a check.
  • Schedule a bill payment through online or mobile banking.

*Please note that it is your responsibility to ensure that you are using your HSA funds to cover or pay for qualified medical expenses.

Transactions and Statements

  • View and download your HSA activity through online or mobile banking
  • Elect to receive your monthly account statement electronically, allowing quicker viewing than a mailed statement.

Con­tact Us!

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