Health Savings Accounts

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Stay prepared with a Health Savings Account

Don't have money set aside for medical bills? A Health Savings Account (HSA) helps you save for the cost of future bumps and bruises.

If you're enrolled in a high-deductible health insurance plan, an HSA lets you put aside pre-tax dollars for future health care expenses.

There’s no minimum balance to open an HSA account with us. You can make contributions at any of our locations, or through your employer via payroll deduction. You’ll get a Liberty Bank HSA Debit Mastercard® to pay for your medical expenses at your doctor’s office or pharmacy.

Here’s what makes Liberty Bank’s HSA different:

  • No minimum balance
  • No annual or monthly fee
  • Competitive interest rates
  • Personal, friendly service
  • Digital banking, Bill Pay and eStatements

Take advantage of the benefits of a Health Savings Account

  • Tax-deductible contributions
  • Tax-deferred earnings
  • Tax-free distributions
  • The money you contribute is yours, even if you change jobs
  • Your balance carries forward every year

Open an HSA in minutes

Open online or find a location. If you're thinking about offering HSAs for your employees, contact HSA Product Manager Carla Abate at

Health Savings Account Rates

Account Balance Interest Rate APY1
$5,000.00+ 0.30% 0.30%
$2,500 - $4,999.99 0.20% 0.20%
$0.01 - $2,499.99 0.10% 0.10%


Rates are effective as of December 6, 2023.

  1. The Interest Rate and Annual Percentage Yield (APY) are as of the effective date and are subject to change without notice. Subject to 1099 reporting. Fees may reduce earnings.

    HSA FAQs

    If you can answer yes to each of the following statements1, you are a candidate for an HSA.

    • I am covered by an HSA-eligible High-Deductible Health Plan (HDHP)
    • I am NOT covered by another health plan
    • I am NOT enrolled in Medicare
    • I am NOT claimed as someone's dependent

    You may make a HSA contribution by visiting any Liberty Bank branch. If you would like your employer to make contributions via payroll deduction, please supply your payroll department with your HSA account number and Liberty Bank’s routing number: 211170282.

    Self coverage only: $3,650
    If age 55+: $4,650

    Family coverage: $7,300
    If age 55+: $8,300

    Self coverage only: $3,850
    If age 55+: $4,850

    Family coverage: $7,750
    If age 55+: $8,750

    For more information, please review the IRS Publication 969 (PDF).

    No. Individuals who enroll in Medicare are no longer eligible to make HSA contributions. However, if you are age 65 or older and not enrolled in Medicare, you can make contributions up until the month you enroll for Medicare.

    Yes. You may directly transfer all or a portion of another HSA into your new one. The direct transfer of assets from one HSA to another is not subject to the annual contribution limits, and there is no limit on the number of direct transfers you may make during any year.

    You can make payments at the pharmacy, at your doctor’s office or upon receiving a medical bill the following ways:

    • With your HSA debit card
    • Via electronic bill pay using Liberty Bank's online banking or mobile app
    • With cash – just be sure to keep your receipts for tax-filing purposes
    • With a HSA check

    No, as long as these funds are used to cover qualified medical expenses.

    Use it for qualified medical expenses, which generally include most medical, dental and vision care costs. For a complete list of qualified medical expenses, please review the IRS Publication 502 (PDF).

    Yes. HSA funds can be used to pay or reimburse qualified medical expenses of the owner, their spouse, and any tax dependents.

    No. As long as the medical expenses were incurred after you established the HSA, there is no time limit on when you must take a distribution to reimburse qualified medical expenses.

    Liberty Bank will provide you with IRS form 5498SA (annual contributions made), and IRS form 1099SA (annual distributions taken). You will receive your 1099SA by January 31; however, since you can make contributions up to the next year’s tax-filing deadline, you will not receive your 5498SA until sometime in May.

    It is the account owner’s sole responsibility to keep receipts and records of monies used for qualified medical expenses in case of audit.


    1. There’s a lot to know about qualifying for and effectively managing your account. Please see our HSA FAQs for details and then consult for additional information. Liberty Bank does not provide tax, legal or investment advice. If you have any questions on these matters, please contact a qualified accountant, attorney or investment advisor.

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