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Health Savings Accounts (HSAs)
On This Page
 HSA Eligibility
HSA Contribution Limits
*HSA Tax-Free Withdrawals
Health Savings Accounts
Save for medical expenses and enjoy tax benefits!
A Health Savings Account (HSA) is a tax-deductible savings account with tax-free withdrawals* for qualified medical expenses. Ask your Employer or Health Insurance Company if your health insurance plan makes
you eligible to open and make contributions to a HSA.
Ent's Health Savings Accounts offer:
- No minimum balance to open & no monthly fees.
- A Free Visa® Check Card – for easy access to funds.
- Unlimited check writing.
- Attractive tiered dividend rates.
- Tax-free withdrawals* for qualified medical expenses.
Ent now offers HSA Certificates. Rates reflect current certificate rates
.
Learn if a Health Savings Account is right for you by using our online HSA Advisor!
To open your HSA, call (719) 574-1100 today, or visit any of our service center locations!
HSA Eligibility
To open and make contributions to a HSA, you must meet all of the following requirements:
- You must be covered under a High Deductible Health Plan (HDHP).
- You cannot be covered by any other health plan that is not a HDHP.
- You are not enrolled in Medicare.
- You are not eligible to be claimed as a dependent on another person's tax return.
- You must be less than 65 years old. (Individuals may not make regular contributions to a HSA in or after the tax year they reach age 65.)
To confirm your eligibility, check with your Employer, Health Insurance Provider, or the U.S. Treasury's website on Health Savings Accounts located
at http://www.treas.gov/offices/public-affairs/hsa/  .
HSA Contribution Limits
Like IRAs, HSAs have maximum annual contribution limits. Contributions for 2008 can be made through April 15, 2009.
| Year |
Single Coverage |
Family Coverage |
Catch-up Provision for
Aged 55 or Older |
| 2008 |
$2,900 |
$5,800 |
$900 |
| 2009 |
$3,000 |
$5,950 |
$1,000 |
*HSA Tax-Free Withdrawals
Withdrawals from HSAs are tax-free if the funds are used exclusively for paying or reimbursing qualified medical expenses. Qualified expenses are those incurred after the HSA is opened and include: doctor visits, prescription drugs and more! Account qualifications apply to HSA Accounts.
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