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Smiling father and mother laughing and playing with their daughter while lying on a bed.

Health Savings Account (HSA)

If you have a high-deductible health plan (HDHP), Flanagan State Bank offers an HSA to help you save for medical expenses using pre-tax* dollars.

Current Rates

Rates effective as of 07/18/2024.
*APY = Annual Percentage Yield
**Interest rate is variable and may change after the account is opened.
See account disclosures for additional account information.

PLEASE NOTE:  APY assumes interest remains on deposit.  A withdrawal or fees could reduce earnings.  A penalty will be imposed for early withdrawal.  Rate changes are made at the Bank’s discretion.  Rates are subject to change without notice.

Type Minimum Deposit to Open Variable Interest Rate APY* Interest Frequency Early Withdrawal Penalty
Type
HSA Checking**
Minimum Deposit to Open
$25 minimum opening deposit + $20 setup fee
Variable Interest Rate
0.15%
APY*
0.15%
Interest Frequency
Monthly
Early Withdrawal Penalty
none
HSA Benefits
Requirements
  • $25 minimum opening deposit + $20 setup fee
  • Must have an HDHP, not enrolled in Medicare, and not claimed as a dependent
How to Set Up a Health Savings Account in Central Illinois

Contact us or visit a branch to start saving for healthcare expenses.

*Consult your tax adviser. Visa is a registered trademark of Visa International Service Association.