Health Savings Account

Take comfort in knowing you can afford the right care.

  • Set aside money for medical costs
  • Benefit from tax advantages
  • Earn interest on deposits

Keep the focus where it should be - on getting better.

It would be great if we could all skate through life in perfect health. But at some point, almost every family deals with illness, injuries or conditions requiring expensive care. With a tax-advantaged Health Savings Account, you can take some of the sting out of big medical bills by setting aside money in advance to cover treatment costs.

  • Designed for individuals and families with high-deductible health plan
  • For 2021, individuals can contribute $3,650 annually, while the limit for families is $7,300. Those aged 55 and older by the end of the year can contribute an extra $1,000.
  • Use funds to cover a wide range of qualified medical, dental vision and prescription expenses
  • Earn competitive interest
  • Contributions may be tax-deductible, and interest earnings and withdrawals are tax-free
  • Unlike your regular health insurance, you can keep an HSA even if you change jobs
  • Unused funds remain in your account from year-to-year. There is no "use it or lose it" rule.
Lincoln Savings Bank is a full-service Central and Northeast Iowa bank dedicated to local customers and communities since 1902.