Our Health Savings Account (HSA) is a tax-advantaged account established by eligible individuals covered under a high deductible health plan.
The self-only contribution limit for 2012 is $3,100 and the Family limit is $6,250. An eligible individual who attains age 55 or older can contribute an additional catch up contribution.
Contributions belong to you with no spending deadline and continue to earn tax-deferred interest. Distributions used to pay qualified medical expenses are tax free.
For further information or to open an IRA with Reliance Bank please contact one of our Financial Services Representatives at 314.569.7200.