A Health Savings Account (HSA) from Orrstown Bank is a smart and tax-advantaged* way to save for qualified healthcare expenses. Whether you're looking to pay for current medical costs or build savings for future healthcare needs, an HSA offers flexibility, control, and powerful benefits to help you manage your healthcare finances.

What is a Health Savings Account (HSA)?

An HSA is a personal savings account designed specifically for individuals with a high-deductible health plan (HDHP). It allows you to set aside money on a tax-free basis* to cover eligible medical expenses, from routine check-ups to prescription costs, dental work, and more. An HSA is a valuable tool to reduce your out-of-pocket healthcare costs while providing long-term savings potential.

Why Open a Health Savings Account (HSA)?

• Tax Benefits: Contributions to your HSA are tax-deductible, and your savings grow tax-free. Plus, withdrawals for qualified medical expenses are tax-free.*
• Long-Term Savings: Unlike other healthcare accounts, unused funds in an HSA roll over year after year, providing you with lasting savings for future medical costs.
• Complete Flexibility: Use your HSA to pay for a wide range of medical expenses, including doctor visits, hospital stays, vision and dental care, and more.
• Portable Savings: Your Health Savings Account stays with you, even if you change jobs, switch health plans, or retire.
• Online Access: View balances, pay eligible expenses and more.

Who Can Open a Health Savings Account (HSA)?

You can open a Health Savings Account if you:

• Are enrolled in a high-deductible health plan (HDHP).
• Are not covered by other health insurance (excluding HDHPs, accident, disability, dental, vision, or long-term care insurance).
• Are not enrolled in Medicare.
• Are not claimed as a dependent on someone else's tax return.

How to Open an HSA with Orrstown Bank

Opening a Health Savings Account (HSA) with Orrstown Bank is easy! Simply follow these steps:

1. Check Your Eligibility: Make sure you’re covered by a qualified HDHP and meet the other HSA eligibility requirements.
2. Apply In-Person: Visit your nearest Orrstown Bank branch to open your HSA.
3. Fund Your Account: Once your HSA is set up, you can start making contributions, either as a one-time deposit or through automatic contributions. Check out our HSA Calculator to plan to ensure you stay within the HSA contribution limits.
4. Start Using Your HSA: Pay for eligible medical expenses with ease using your HSA debit card or online bill pay.

Open Your Orrstown Bank Health Savings Account Today

Take control of your healthcare savings with an Orrstown Bank HSA. With tax advantages,* flexibility, and rollover benefits, an HSA can help manage your medical expenses and save for the future. Open your HSA Health Savings Account today and start enjoying the benefits of smarter healthcare savings!

Visit an Orrstown Bank branch to open your HSA

*Consult with a tax advisor regarding tax advantages. Contributions are tax-deductible on your federal tax return.  Your HSA contributions can be either pre-tax if made by payroll deduction, or tax deductible. For more information, please reference IRS Publication 969 at https://www.irs.gov/forms-pubs/about-publication-969.