Health Savings Account

Unfortunately you can't plan out your medical future, but you can plan for medical-related expenses. An HSA plan from Bank of The Finger Lakes allows you to set aside in advance for medical expenses. Take advantage of benefits, including triple tax savings, competitive interest, and increased personal control.
Tax-free contributions can be made by both you and your employer and can be withdrawn at any time.*** Plus, regardless of job or life changes, an HSA always remains in your name — providing the flexibility you deserve.
  • Greater personal control over healthcare management and expenses
  • Prepare for qualified medical expenses
  • Earn competitive interest on entire balance
  • An HSA provides triple tax savings
  • Tax deductions when you contribute to your account
  • Tax-free earnings through investment
  • Tax-free withdrawals for qualified medical, dental, vision expenses, and more*
  • Contributions are tax-free and can be made by you, your employer, or a third party**
  • Funds can be withdrawn at any time***
  • Available at no additional cost
  • Unused funds remain in account year after year; no "use it or lose it" policy
  • Keep your HSA in your name, regardless of career or life changes
  • Federally insured by FDIC
  • $25.00 minimum deposit to open

*Consult a tax advisor.
**When used for qualified medical expenses. Consult a tax advisor. Qualified expenses include most medical care and services, dental and vision care, weight loss programs, some over the counter medications, mileage, and more.
***You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty

Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.

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Health Savings Account (HSA) 
Personal Savings
Personal Money Market 
Relationship Reward Money Market