Save today for tomorrow's expenses

HEALTH SAVINGS

More Info & Help

Health Savings Accounts (HSAs), are a convenient way to save and pay for qualified medical expenses as long as you are participating in an eligible, high-deductible health plan (HDHP) that has a minimum deductible of $1,300 for individuals and $2,600 for family coverage.

With Valley’s HSA, the funds in the account are always yours. Unspent balances remain in the account until utilized. You have the freedom to continue saving in the account, even after your retirement.1

Start saving today! Visit a local branch or call our 24/7 Customer Service Team at 800-522-4100 to get started.

Features Health Savings Calculator

Basics
Year-to-year accrued deposits Yes (Funds rollover from year to year. Funds will accumulate for future medical needs)
Monthly Fee $3.00 assessed on the last day of the month
HSA Debit Card Included*
Early Termination Fee A termination fee of $25.00 will be assessed if you close your account within 90 days of its opening date.
Tax Advantages
Tax-deductible contributions Yes
Tax-deferred earnings Yes
Tax-free distributions Tax-free distributions when used to pay qualified medical expenses (for yourself, your spouse, and dependents) The IRS determines what qualifies as a medical expense (IRS Publication 502)
Contributions
Maximum Maximum contributions are set annually by the IRS
Catch-Up contributions Additional catch-up contributions available for those age 55 to 65

*See the Schedule of Fees for additional consumer account information.

1Cannot be enrolled in any other plan or Medicare.