Health Savings

A CenterState Health Savings Account (HSA) is a great way to help you pay for qualified medical expenses. A HSA  enables you to save for your health care deductible, while taking advantage of tax savings.

Qualified Medical Expenses

• Standard medical services such as office visits and annual medical physicals.
• Prescriptions, some over-the-counter medicines, and health care products.
• Preventive and restorative dental care, as well as orthodontia for children and adults.
• Eyeglasses, contact lenses, and laser eye surgery.

How you can save

• Contributions to your account may be tax-deductible on your federal income tax return, and, in most cases, on your state income tax return. (Consult your personal tax advisors.)
• You can pay for qualified medical expenses with tax-free withdrawals.
• Your employer may offer a payroll deduction option to help you make contributions on a tax-free basis through your employer's cafeteria plan. In addition, your employer may also decide to contribute.
• Unlike Flexible Spending Accounts, your HSA has no "use it or lose it" requirement and also stays with you if you change jobs or retire.

This account includes the following

• Unlimited QuickCheck Debit Card transactions
• Personalized Health Savings Account debit card
• No monthly fee
• Bill Payment capability

If you meet the following criteria in any one month, you are eligible:

• You are covered under a high-deductible health plan (HDHP) on the first day of that month;
• You are not covered under another type of health plan that is not an HDHP (certain exceptions apply);
• You are NOT enrolled in Medicare (generally, are under 65 years old);
• You may not be claimed as a dependent on another individual's tax return.

Once you have met the requirements, anyone may contribute to your HSA, regardless of your employment status. 100% of your contribution is deductible. Furthermore, the earnings grow tax deferred and all qualified distributions are tax-free. Be sure to consult with your tax or legal professional for guidance.

If you are covered by an HSA-eligible health insurance plan and satisfy other conditions, you can open The HSA for Life® Health Savings Account from CenterState Bank and begin saving money to help pay for qualified medical expenses.

You're in control

• When you open an account, you're issued CenterState's Master Card that makes it easy for you to pay for qualified medical expenses.
• You have online access to account transactions, so keeping tabs on your medical spending is easy.