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Business Health Savings Account

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Healthcare costs are on the rise making it a challenge to provide an attractive benefit package to your employees. A Health Savings Account (HSA) from State Bank & Trust Co. combined with a High Deductible Health Plan from your insurance provider can reduce healthcare costs, and provide a tax-advantaged, lifetime medical savings account for your employees.

Benefits of Owning a HSA

Affordable:

You and your employees will pay less for insurance premiums and can share healthcare benefit costs if enrolled in a High Deductible Health Plan (HDHP).

Simple:

We work directly with your employees to set-up and manage the account so it will be seamless for your company.

Flexible:

Contributions can be made by your business or the employee. If your business contributes, it must do so in equal amounts to all employees.

Value-added:

HSAs are an easy way to provide added value to your benefits package that will attract new and retain current employees.

Tax Savings:

There are potential tax benefits; consult your tax advisor for details.

State Bank & Trust HSA Features

  • No Set Up Fee
  • Interest Earned Monthly with a Tiered Rate
  • Free 1st Debit Card
  • 2nd Debit Card $15.00
  • Free Online Statements
  • Free Online Access
  • Semi-Annual Maintenance Fee $5


How to get started:

  1. Contact your insurance provider about a HSA-qualifying High Deductible Health Plan.
  2. Determine if you will be contributing to your employees' HSAs. Direct deposit is available.
  3. Arrange an orientation session for your employees with a State Bank & Trust Co. HSA expert.
  4. Employees visit State Bank & Trust Co. and set-up their accounts or apply online.
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