Health Savings Accounts

A Health Savings Account (HSA) is an account that can be opened by your employees in order to make tax-advantaged contributions. The funds may be withdrawn by your employees, tax-free, for qualified medical expenses. You and your employees may make contributions into an HSA as long as your employees are enrolled in a qualified High Deductible Health Plan (HDHP).  In order to be eligible for an HSA, an employee must:

  • Be enrolled in an HDHP
  • Not be covered by another health insurance plan, except what is permitted (see IRS Publication 969 for more information)
  • Not be covered by Medicare
  • Not be a dependent on someone else's tax return

Learn more about the benefits of the KeyBank HSA for both your employees and yourself. Annual fees and set-up charges may be waived for your employees if you have a business checking account relationship with KeyBank.

For more information, call 888-KEY-2020 (539-2020) to speak with an HSA specialist.