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Relieve financial stress. Tiered interest and tax advantages2 help you take care of medical expenses.


Key Features

  • Competitive Interest1
  • Tax Advantages2
  • Earn interest above standard savings on entire balance
  • Tiered rates for even greater yields on larger balances1:
  • Interest earnings grow tax free2
  • Withdrawals are tax free when used for qualified medical expenses3
  • Free checks, debit card, and digital banking to access funds
  • Can be used for self, spouse, and dependents
  • Contributions can be excluded from income for more tax savings
  • Money rolls over year-to-year automatically
  • HSA is owned by you — not your employer
  • One-time $20 setup fee
  • $1.75 monthly maintenance fee waived with $2,500 balance
  • $50 minimum deposit to open
  • Federally insured by FDIC

Any individual may establish an HSA if they are:

  • Under age 65
  • Covered by a high deductible health plan (HDHP)
  • Not enrolled in Medicare
  • Not claimed as a dependent on someone else's tax return 

High Deductible Health Plan (HDHP)

An HDHP is an inexpensive health insurance plan that doesn't pay for the first several thousand dollars of healthcare expenses (i.e., your "deductible") but will generally cover you after that. 

It represents a trade-off, lower monthly premiums for higher initial out-of-pocket expenses when needed. However, by establishing an HSA, you are able to pay for the initial expenses that your HDHP does not cover. Thereby enjoying the lower premium without exposing yourself to risk — and gaining tax advantages along the way.

HSA funds retain their tax-free status if they are used for the following expenses:

  • Doctor and dentist visits
  • Prescriptions
  • Transportation to receive medical or dental care
  • Healthcare coverage if you are unemployed
  • Long-term care insurance
  • Certain continuation-of-benefit coverages
  • Health insurance plans that qualify after age 65


  • Contributions can be made by you, your employer, or both
  • If made by employer, it is not taxable to the employee
  • If made by individual, it is an "above-the-line" deduction toward adjusted gross income
  • If made by others on behalf of an individual, it is deductible by individual
  • Contributions not allowed after age 65

Contribution Limits

Contribution limits are set by the IRS. Current 2021 contribution limits are:

  • $3,600 for a single policy
  • $7,200 for a family policy
  • A person age 55 or older may make an additional $1,000 in "catch-up" contributions


  • Permitted from another HSA or MSA with no dollar limit
  • One rollover allowed per 12 months
  • Not permitted from IRA, HRA, or FSA
  • One-time transfer from IRA
  • Unlimited trustee-to-trustee transfers

Important Note: The information contained in this section is not intended to provide specific advice or recommendations for any individual. We suggest that you consult your financial advisor.

1Annual Percentage Yield (APY) is accurate as of 1/16/2020. If your daily balance is less than $2,000, the interest rate will be 0.06% with an APY of 0.06%. An interest rate of 0.06% will be paid only for that portion of your daily balance that is $2,000 to less than $10,000. The APY for this tier will range from 0.06% to 0.06% depending on the balance in the account. An interest rate of 0.08% will be paid only for that portion of your daily balance that $10,000 and over. The APY for this tier will range from 0.06% to 0.08% depending on the balance in the account. Rates may change after the account is opened. Fees may reduce earnings. Minimum daily balance to earn APY is $0.01. Minimum deposit to open is $50.00. One time account set-up fee is $20.00. A $2,500 average daily balance is required to avoid a $1.75 monthly maintenance fee.

2Consult a tax advisor.

3Withdrawals for non-qualified medical expenses are subject to income tax and a 10% penalty. The 10% penalty is waived for persons 65 and over or who have become disabled.

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Meus Bank, P.O. Box 19050
Syracuse, NY 13209