Pinnacle offers Health Savings Accounts (HSA) to individuals and employers who participate in, or offer, high-deductible health plans.  An HSA is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses for individuals covered by a high-deductible health plan.

An HSA can be used to pay for a wide variety of health and wellness related products and services. Distributions from an HSA are not included in income as long as the funds are used for a qualified medical expense. Unlike a Flexible Spending Account (FSA), there are no “use it or lose it" penalties.  As long as expenses occur after the HSA has been established, unused funds simply roll over from year to year and continue to grow with interest.

The funds deposited in an HSA belong to you, and may be used at your discretion. The funds also belong to you should you change jobs.  There is no time limit in which you must reimburse yourself for health care expenses. It is important to keep legible receipts and records of self-reimbursement in the event of an audit.  You also decide whether to spend from the HSA for medical expenses or pay out of pocket and save the HSA funds for the future.

Pinnacle’s HSA requires no minimum balance, has no monthly maintenance fees, and pays a very competitive interest rate.  You can access your HSA funds using a Visa Check Card or by check.

Our financial advisors welcome the chance to discuss our Health Savings Account with you. Please send us a request through our Contact Us form or visit us at one of our convenient Office Locations