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Health Savings Accounts (HSAs)

Be Prepared for Future Medical Expenses with an HSA from Putnam Bank

Even with insurance, paying for health care is a major expense that has increased over time. However, having a health savings account (HSA) from Putnam Bank in conjunction with a high-deductible health plan can help cover the costs of any medical expenses for you or your family.

An HSA is a tax-advantage checking account created by the goverment to help manage any increasing health care costs. HSAs can be used to pay for qualifying medical expenses if you haven't yet reached your deductible or out of-pocket maximum with your health insurance plan.

Pre-Tax contributions can be made, by both you and your employer, anytime, up to the maximum contribution limits (2018 contribution limits: individuals = $3,450. Family plans = $6,850. Plus HSA owners ages 55+ are eligible for $1,000 catch-up contribution). The HSA account balance carries over from year to year without penalties or fees.

Start an HSA online with Putnam Bank. If you have further questions about an HSA with Putnam Bank, our staff would love to help. Simply call or come by any of our offices!


Putnam Bank offers HSAs with:

  • No Service Fee
  • Competitive interest rates
  • No minimum balance requirements
  • Direct Deposit / Employer ACH Contributions
  • Free printed checks
  • Free debit card available to the HSA owner, authorized signers and covered dependents over the age of 18.

Health Savings contribution limits apply and are subject to change. Consult Tax Advisor. Qualified High Deductible Health Plan required. Other fees, terms and conditions may apply.

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