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Health Savings Account

Make medical care more affordable for you and your family

A big medical bill can be a bitter pill to swallow - one more worry when the focus should be on you or a loved one receiving the best treatment possible. One way to buy yourself peace of mind is by opening a tax-advantaged account that helps you set aside money in advance to cover doctor, dental and vision care, plus prescription costs and other health-related services.

Benefits for Individuals

  • Designed for individuals and families with high-deductible health-insurance coverage
  • Pre-tax dollars can be routed to your HSA through payroll deductions
  • Earn a robust interest rate on deposits
  • Interest earnings are tax-free and all qualified withdrawals are tax-free
  • No minimum opening deposit or daily balance
  • No service fee
  • Get a special debit card to pay for medical expenses
  • Track activity using Online and Mobile Banking
  • Any unused funds automatically roll over to the next year
  • Unlike employer health insurance, your HSA stays with you even if you change jobs
  • Funds still in account when employees reach retirement age can be used for any purpose

Benefits for Employers

HSAs can be an attractive option for businesses that offer high-deductible insurance plans or no health-care insurance at all.

  • Added benefit to attract and retain good employees
  • No cost involved in offering your workforce Midstates Bank HSAs
  • Any contributions employers choose to make are exempt from payroll taxes.
  • You can help employees become better health care consumers
  • Midstates can help educate your employees on the benefits of HSAs

Midstates Bank is a full-service financial institution with branches throughout western Iowa.
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Start saving for the future.

Choose from two options & open a savings account online! Unlock the power of personal savings with Midstates Bank.