Health Savings Accounts (HSAs)
Open a new HSA online or log into an existing account
Complete our safe and secure online application in as little as 10 minutes. If you do not have an employer code, please email health@pnfp.com for instructions on setting up your account.
Take control of your healthcare spend with an HSA.
Some health insurance plans offer lower monthly premiums in exchange for higher annual deductibles. They’re often a good option for young people and others who don’t go to the doctor often. To help cover the expenses that do come up, Pinnacle offers specialized savings accounts designed for qualified medical expenses.
When you pair an HSA Qualified Health Plan with a Health Savings Account (HSA), you get an alternative to traditional health insurance and more control over your healthcare expenses. As a bonus, they also come with tax benefits. All deposits and interest earned in HSAs are tax-exempt. Learn more about the triple tax advantages of HSAs and the three life stages: saver, spender and senior.
HSAs offer a host of other significant benefits:
- No “use it or lose it” penalties.
Unused money rolls over from year to year and keeps growing with interest.
- The money is yours.
It can be used at your discretion and stays with you if you change jobs or health plans. The savings can build like a retirement account, and when you turn 65, you can use the funds for non-medical expenses without a penalty, though they will be taxed as income.
- No time limit for reimbursements.
You decide whether to spend from the HSA or pay out of pocket, and you decide when to reimburse yourself.
- Open accounts easily and securely online with quick turnaround.
You can start using your money as early as the next business day if you make an electronic transfer at account opening.
Pinnacle’s HSAs also include:
- Tax-exempt contributions and interest*
- No per-transaction charges
- Competitive interest rates on the entire balance
- Secure online portal and mobile app to manage funds and expenses
- Debit card access
- Monthly account statement ($1 monthly for print statements)
- FDIC insurance for funds held in your Pinnacle HSA
- HSA Store access, where all items are eligible to purchase with your Pinnacle | Health & Benefits debit card
*The IRS contribution limits will increase from 2022 to 2023. Please review the grid below for contribution limit details.
IRS Contribution Limits |
Minimum HDHP Deductible |
2022 |
2023 |
Individual Coverage |
$1,400 |
$1,500 |
Family Coverage |
$2,800 |
$3,000 |
Maximum HDHP Out-of-Pocket |
2022 |
2023 |
Individual Coverage |
$7,050 |
$7,500 |
Family Coverage |
$14,100 |
$15,000 |
Maximum HSA Contribution |
2022 |
2023 |
Individual Coverage |
$3,650 |
$3,850 |
Family Coverage |
$7,300 |
$7,750 |
Catch-up Contribution (55+) |
2022 |
2023 |
Per person |
$1,000 |
$1,000 |