Health Savings Accounts (HSA) for Businesses
Health Savings Accounts (HSAs) were created in 2003 so that individuals covered by high deductible health plans could receive tax-preferred treatment of money saved for medical expenses. Offering a high deductible health care plan in conjunction with Health Savings Accounts to your employees can be a great way to decrease your company's health care expenses while offering your employees a cost-effective way to plan for their medical expenses.
Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA. The Bank of the James Health Savings Account offers a preferred interest rate, unlimited check writing for a reasonable monthly fee.
Please contact one of our business bankers to discuss the Bank of the James Health Savings Account.
Accounts subject to credit approval.