Health Savings Accounts

A way for employees to save and pay for healthcare expenses

Learn about HSAs

To contribute to an HSA, you must have a qualifying high-deductible health plan (HDHP). Save money in your HSA as you would in any other interest-bearing account, and use your HSA dollars, tax-free, to pay for healthcare expenses. What you don't spend continues to grow, year after year. After age 65, you can choose to continue to use your HSA tax-free for healthcare expenses or use it for other purposes as taxable income.

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HSA Eligibility

To be eligible to set up an HSA, you:

  • Must be covered under a high-deductible health plan (HDHP)
  • Can have no health coverage other than the HDHP (certain exceptions may apply)
  • May not be enrolled in Medicare
  • Cannot be claimed as a dependent on someone else's tax return

Employers may choose to offer HSAs as a benefit to their employees. Individuals enrolled in HDHPs may also open their own HSAs, similar to how they might open traditional checking or savings accounts.  


Discovery Benefits, a sister company of Bell Bank, sets up and administers HSAs. For answers to your questions and to find out if you are eligible for an HSA, please contact Discovery Benefits at 877-765-8815 and ask to talk to a representative about an individual HSA.

Why Bell

Your life, your healthcare – they’re of the utmost importance. We feel the same way, and we can help you plan for expenses and your future.

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