Health Savings Accounts
Save for healthcare expenses while earning interest and enjoying tax advantages—now and into the future.
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SAVE FOR TOMORROW. PAY FOR TODAY.
A smarter way to manage medical costs. An HSA from CSB gives you control of your healthcare dollars with tax benefits, no monthly fees, and the flexibility to use your funds when you need them.
Health Savings Accounts - we make saving easier.
$50 deposit required to open the account.
Tiered Interest Product
Interest rate you earn increases as your balance grows. $50 minimum balance to earn interest.
No Monthly Service Charge
Enjoy access to your HSA with no monthly maintenance fee.
An early closeout fee of $40 will apply to all savings and checking accounts closed within 90 days of opening. The Commercial and Savings Bank reserves the right to accept deposits from its local market area. No brokered deposits.
Your Questions,
Answered.
Prepared for informational purposes only. This information is subject to change, and other terms, restrictions, and fees may apply. Please consult with a legal and tax professional for specific guidance on HSAs.
WHAT IS A HIGH DEDUCTIBLE HEALTH PLAN (HDHP)?
A High Deductible Health Plan (HDHP) is a plan that has an annual deductible that is typically higher than traditional insurance plans, and a maximum annual out-of-pocket for single and family coverage. These amounts may change annually.
Am I eligible for an HSA?
You must:
- Be covered under a High Deductible Health Plan (HDHP)
- Not be enrolled in Medicare
- Not be claimed as a dependent on someone else's tax return
- Not have other non-HDHP health coverage
What are the tax benefits?
- Contributions are tax-deductible (or pre-tax via payroll)
- Funds grow tax-deferred
- Withdrawals for qualified medical expenses are tax-free
Who can contribute?
You, your employer, or anyone else on your behalf. Contributions can be made via automatic payroll deduction, through CSB Online Banking, in person, or by mail.
How can I access my funds?
Use your CSB HSA debit card, write checks, or pay bills online through CSB Online Banking.
What happens if I don’t use all my funds this year?
Your funds roll over automatically. There’s no “use it or lose it.”
Do I need to track my expenses?
Yes. You’re responsible for keeping receipts and verifying that distributions are used for qualified medical expenses.
For HR Directors
Please provide employees with the HSA application to get started. Completed forms must be returned to a CSB location.
For more information about Health Savings Accounts, contribution and distribution limits, and deadlines, please connect with us or visit www.irs.gov.
For more information on account opening related matters, let's take your next step.
Let’s Get You Started
Start online or stop by a branch—it’s fast, easy, and backed by real people who care.