Health Savings Account (HSA)

Female doctor

An HSA helps make taking care of your health a no-brainer.


  • Prepare for qualified medical expenses
  • Receive higher rates on larger deposits
  • 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 more1
  • Contributions are tax-free and can be made by you, your employer, or a third party
  • Funds can be withdrawn at any time2
  • No monthly service charge
  • No minimum balance requirements
  • 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
  • Minimum Deposit to Open - $100
Stop by a local Security Federal Bank branch to open an HSA.  A list and map of all our branches can be found here.
Eligibility: 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. Contact your tax advisory for further eligibility requirements.

1Consult a tax advisor

2You 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 However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.

Account openings and credit are subject to bank approval.