Health Savings Accounts

High healthcare costs can put a strain on your budget. A MidAmerica National Bank Health Savings Account (HSA) helps provide an affordable way of paying for healthcare expenses while allowing you to save for the future at the same time.


  • Your HSA offers a triple tax benefit*: Contributions are excluded from income for tax purposes; earnings on the account are not taxable; and taxes are not paid upon withdrawal of funds, as long as they’re used for an eligible expense.
  • Unused money rolls over from year to year - there’s no “use it or lose it” policy.
  • Your account is portable - if you change jobs you can continue using the same account.
  • If you’re 55 or older, you can make catch-up contributions so you can save valuable healthcare funds more quickly.
  • Funds held in the HSA are FDIC-insured up to the maximum amount permitted by law.


  • A MidAmerica National Bank Debit Card.
  • Online Banking access & funds transfer availability.
  • Online Bill Payment.
  • Easy payment options for your medical expenses.

Qualifying for an HSA

To qualify for an HSA, you must meet the following requirements:

  • You must be covered under a high deductible health plan (HDHP) on the first day of the month.
  • You have no other health coverage except what is permitted.
  • You are not enrolled in Medicare.
  • You cannot be claimed as a dependent on someone else’s tax return.
  • Each spouse who is an eligible individual who wants an HSA must open a separate HSA. You cannot have a joint HSA.

A High Deductible Health Plan (HDHP) has:

  • A higher annual deductible than typical health plans.
  • A maximum limit on the sum of the annual deductible and out-of-pocket medical expenses that you must pay for covered expenses. Out-of-pocket expenses include copayments and other amounts, but do not include premiums.

Visit for complete rules including HDHP qualifications and contribution limits. Contribution limitations are revised each year to reflect cost-of-living increases.

* MidAmerica National Bank does not provide tax or accounting advice. Please consult an accountant or tax advisor for professional advice in these areas.