Health Savings Accounts

Save for current and future healthcare expenses with a Health Savings Account from Reliant!

A Reliant Health Savings Account (HSA) is a great option if you’re currently enrolled in a high-deductible health plan (HDHP). A Reliant HSA is a tax-favored checking account that allows you and/or your employer to contribute funds1 on a pre-tax or tax-deductible basis. You may then use those funds to pay for eligible medical expenses—whether you incur those expenses this year, or years down the road!


Save Money for the Short or Long Term

Similar to a flex spending account (FSA), an HSA allows you to use pre-tax dollars to cover current and future medical expenses. Unlike an FSA, though, an HSA allows you to roll your balance over from year to year. If you don’t use any of the funds you contribute this year, you can keep them for next year—or for years to come! And even if you leave your current job, your HSA at Reliant remains the same. 

Reliant’s HSAs are checking accounts, but they are also dividend-earning accounts—which means you’ll earn dividends on the funds in your account. This makes HSAs great tools for saving up for long-term medical expenses.


NO FEES!

One of the main benefits to having an HSA is to take advantage of the pre-tax savings—so why would you want to offset those savings with fees? With a Reliant HSA, there is NO FEE to apply, there are NO MONTHLY or ANNUAL FEES, and there is NO FEE to use the accompanying Visa debit card!


FREE, Easy, and Convenient Access2

You can choose to get a Visa debit card to accompany your HSA, which will allow you to pay for medical expenses anywhere Visa is accepted, or to withdraw funds at an ATM. You may also choose to write checks from your HSA. 

When you sign up for online and mobile banking, you’ll be able to manage the funds in your HSA anytime, anywhere. You can transfer funds to or from your HSA using your computer, smartphone, or tablet, and use online banking or your Reliant mobile app to pay qualified medical bills from your Reliant HSA!3



1: The maximum amount you can receive in contributions to your HSA each year depends on whether you have self-only or family HDHP coverage.

2: The HSA account holder is responsible for funds going out of the account and must keep sufficient records to show that the distributions were used to pay or reimburse qualified medical expenses. This includes most medical, dental, and vision expenses. Reliant files required annual information returns with the Internal Revenue Service (IRS) for all HSA accounts.

3: Online/mobile bill pay is free when you are enrolled in e-statements. If you are not enrolled in e-statements, a $5.00/month fee will apply to use bill pay.

How to Open a Reliant HSA

Opening a Reliant HSA checking account is easy! Visit any branch or contact us at 800-724-9282 to get started.

Do you have an HSA with another institution and would like to benefit from Reliant's HSA checking account? Visit any branch and complete an HSA transfer/rollover form.


Employers Interested in Offering Reliant HSAs

Contact our Member Service Center at 800-724-9282 to learn more today!

Eligibility

To be eligible for an HSA, besides having coverage under an HDHP, you

  • cannot be covered by another health plan (with limited exceptions).
  • cannot be enrolled in Medicare.
  • cannot be eligible to be claimed as a dependent on another person’s tax return.

Your health plan representative can also help you determine if your plan is HSA compatible.