HSA Account

A Health Savings Account (HSA)1 is designed for people with High Deductible Health Plans (HDHP). An HSA is like an IRA or a 401(k) for medical expenses. It’s a complement to traditional health insurance, enabling you to pay for current health expenses and save for future medical expenses on a tax-free basis. If you change jobs or move to another city or state, your HSA can move with you. Unlike a flex plan with its “use it or lose it” rule, your HSA money rolls over from one year to the next. Best of all, you own and control the money in your HSA. All decisions on how to spend and/or invest the money in your account are made by you. QNB is happy to help you with a rollover of a qualified HSA to a QNB HSA Account. Stop by any QNB branch location to learn more or get started.

Piggy bank in a doctor's hands with a stethoscope

HSA Benefits:

Tax Savings: HSA contributions made through payroll deductions reduce federal income tax liability.

HSA distributions used to pay for qualified medical expenses are tax-free.

Retirement Benefits: After retirement an HSA is treated like a traditional IRA and funds can be used as income without penalty.

Earnings in an HSA grow tax-deferred: You can carry your HSA balances over from year to year.

Ownership and Portability: You own the HSA. If you change jobs or health plans, the funds in your HSA are yours to keep.

To be eligible to have an HSA, you must be covered under an HSA-compatible HDHP. Rules that define an HSA-compatible HDHP can be complex, so we recommend checking with your insurance provider to see if your health plan is HSA-compatible.

QNB HSA Account Features:

Individual & Employee HSA Q&A
Employer HSA Q&A

$20 initial account set-up fee and a minimum of $25 needed to open

Earns interest with tiered balance structure:

  • $0.01 - $4,999.99
  • $5,000 +
  • Interest accrues daily and posts monthly

eStatements2 or paper statements

QNB Mobile Banking4

No minimum balance requirement; no monthly or per transaction fees

Receives a monthly statement (can be eStatement2 )

QNB Health Savings Debit Card

QNB Online Banking with Bill Pay service3

Checks are available for purchase

  1. HSA account information is not intended as legal or tax advice; therefore, any tax information provided is not intended to be used, or relied upon, by any taxpayer for the purpose of filing taxes or avoiding penalties that may be imposed on the taxpayer. The tax information was written here to support the promotion and marketing of the matter(s) addressed. You should seek advice from an independent legal or tax advisor based on your particular circumstances.

  2. Requires enrollment. To receive eStatements, QNB Online and/or Mobile Banking is required. Data rates may apply.

  3. Requires enrollment.

  4. Messaging and data rates may apply.