Health Savings Accounts in Wisconsin & Minnesota
Health Savings Accounts (HSAs) are tax-advantaged accounts designed specifically for healthcare expenses, allowing you to save and pay for medical costs in a way that maximizes your financial benefits.
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Health Savings Account (HSA) Features
Secure your future healthcare expenses with a Health Savings Account (HSA) from Forward Bank, available to residents in Wisconsin and Minnesota. This tax-advantaged savings account allows you to save and grow your funds for qualified medical expenses while benefiting from tax-free contributions, growth, and withdrawals. When a qualified medical payment is due, pay for it with the funds in your HSA account using your free debit card.
- No minimum to open and no monthly fees: Open your account with no minimum balance and enjoy no monthly fees.
- Tax-advantaged savings: Your contributions go in tax-free, grow tax-deferred, and withdrawals are tax-free for eligible expenses, allowing your savings to increase steadily with monthly posted interest and no minimum balance required to earn.
- Unlimited transactions: Enjoy the freedom of unlimited transactions, so you can manage your business operations without worrying about additional costs or restrictions.
- Free debit card: Access your funds easily and make purchases conveniently with a free debit card, giving you more flexibility in managing day-to-day expenses.
- Digital banking access: Manage your savings anytime, anywhere with our online and mobile banking options.
Health Savings Account Interest Rates
Account | Minimum to Open | Interest Rate | APY** | Minimum to Earn APY** |
---|---|---|---|---|
AccountHealth Savings Account* | Minimum to Open$0 | Interest Rate0.05 | APY**0.05 | Minimum to Earn APY**$0 |
AccountHealth Savings Account* | Minimum to Open$0 | Interest Rate0.05 | APY**0.05 | Minimum to Earn APY**$2,500 |