Health Savings Account
Iowa Trust and Savings Bank’s Health Savings Accounts are designed to help you save for future qualified medical and health expenses on a tax –advantaged basis. To participate in a HSA, you must be enrolled in a high-deductible health plan. To find out if you qualify, please consult with a tax professional.
We offer Health Savings Accounts (HSAs) for individuals as well as families. This account is a checking account. No minimum balance is required. There are no monthly maintenance fees. Free checks are provided with this account. Debit cards are available by application for $1.00 per month. Monthly account statements are provided. Imaged items are returned with the statement. These accounts are also interest bearing accounts.
The interest rate and the annual percentage yield (APY) may change over time. At our discretion, we may change the interest rate on the account daily without notice. We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded monthly and will also be credited to the account monthly.
For more information regarding Health Savings Accounts (HSAs) as well as current rate information, please contact a Financial Services Representative at 641-437-4500.