Health Savings Account
Help Employees Save for Healthcare While Supporting Your Bottom Line
Offering a Health Savings Account (HSA) alongside an HSA-eligible High Deductible Health Plan (HDHP) is a simple way to provide valuable employee benefits while helping control healthcare costs.
At State Savings Bank, we make it easy for Iowa businesses to offer HSAs with local service, straightforward enrollment, and ongoing support. Our community banking team works directly with employers and employees to simplify the process from start to finish.
If you have five employees or five hundred, we'll help you create an HSA program that works for your business.
Talk With a Business Banker Or Come By a Branch Location
Why Offer an HSA?
Healthcare benefits are a significant investment for many businesses. Pairing an HSA with an eligible High Deductible Health Plan can help employers manage costs while providing employees with a valuable financial benefit.
HSAs may help businesses:
- Reduce healthcare and payroll costs
- Offer a competitive employee benefit
- Support employee recruitment and retention
- Encourage smarter healthcare spending
For employees, an HSA provides a tax-advantaged way to save for qualified medical expenses while building long-term healthcare savings.
What Is a Health Savings Account?
A Health Savings Account (HSA) is a personal savings account employees can use to pay for qualified medical expenses.
Employees who are enrolled in an HSA-eligible high-deductible health plan can contribute money to the account before taxes. Employers may also choose to contribute.
Unlike many benefit accounts, unused HSA funds roll over every year. Employees own the account, so the money stays with them if they change jobs or retire.
Triple Tax Advantages
HSAs are often called one of the most tax-efficient employee benefits available.
| Tax Advantage | How It Helps |
|---|---|
| Pre-tax contributions | Contributions may reduce employees' taxable income and can reduce employer payroll taxes.* |
| Tax-free earnings | Interest earned grows tax-free when used for qualified medical expenses.* |
| Tax-free withdrawals | Qualified medical expenses can generally be paid without federal income tax.* |
*Please consult your tax advisor regarding your specific tax situation.
Why Iowa Business Owners Choose HSAs
Adding an HSA to your benefits package can support both your employees and your business.
Lower Benefit Costs
High Deductible Health Plans often have lower premiums than traditional health plans, helping reduce benefit expenses.
Better Employee Benefits
Employees appreciate having a dedicated account to help pay for healthcare expenses now and in the future.
Greater Employee Retention
Competitive benefits help attract and retain talented employees.
Tax Savings
Employee payroll contributions made through a cafeteria plan may reduce employer payroll tax liability.
Flexible Employer Contributions
You decide if and how much your business contributes to employee HSAs.
How State Savings Bank Makes HSA Enrollment Easy
Offering Health Savings Accounts to your employees should be simple, not another administrative burden.
State Savings Bank makes the enrollment process easy for both employers and employees.
Employees can open an HSA just like any other bank account by visiting one of our convenient locations. We provide a custodial organizer that includes everything needed to establish the account, including:
- HSA application
- Contribution information forms
- Beneficiary designation forms
- Required identity verification under the USA PATRIOT Act
- Debit card enrollment
- Check order forms
If several employees need to open HSAs, we can come directly to your business. Our team will answer questions, explain how HSAs work, and help employees complete all required paperwork on-site, saving everyone a trip to the bank.
Our HSA's are available to residents of Iowa living in Polk, Jasper, and surrounding counties. You and your employees can see specific details about the account here and get answers to common HSA questions here.
HSA Account Features
State Savings Bank Health Savings Accounts are designed to be simple, affordable, and convenient for both employers and employees.
Our HSAs include:
- No minimum deposit is required to open an account
- No minimum balance requirement
- Interest earned at the current SSB Select Checking interest rate
- Free HSA debit card for qualified medical expenses
- Optional check-writing privileges (checks available at the customer's expense)
- Free eStatements
- Paper statements available for $5 per statement
- The option to invest HSA funds in HSA Certificates of Deposit (CDs)
- FDIC-insured deposits
- Friendly, local customer service and support
View our current SSB Select Checking interest rates and HSA CD options for the latest rates and investment information.
2026 HSA Contribution Limits
Employees and employers may contribute up to the annual IRS limits.
- Individual coverage: $4,400
- Family coverage: $8,750
- Age 55 or older: Additional $1,000 catch-up contribution
Why Work With a Local Community Bank?
Unlike many national HSA administrators, State Savings Bank offers personalized service from people who know your business.
When questions come up, you'll work with local bankers, not a call center.
We help employers:
- Answer employee questions
- Simplify enrollment
- Support payroll contributions
- Provide ongoing account assistance
- Deliver responsive local service
We believe business banking should be built on relationships.
Additional Business Services
A Health Savings Account is just one of the many ways State Savings Bank helps Iowa businesses manage their financial needs.
Beyond employee benefits, we offer a full range of business banking solutions designed to help you manage day-to-day operations, support growth, and simplify financial tasks.
Our business checking, business online banking, and cash management tools give you convenient access to account information and the ability to quickly manage transactions, transfer funds, pay bills, make loan payments, and handle electronic payments and collections.
Help Your Employees & Your Business Prepare for Healthcare Costs
Offering a Health Savings Account is an easy way to strengthen your employee benefits while helping control healthcare expenses.
State Savings Bank makes the process simple with local support, convenient enrollment, and personalized service every step of the way.
If you have additional questions and would like your account officer to contact you, please click here and fill out the form at the bottom of the page. Be sure to check the Health Savings Account (HSA) check box and type a question or comment in the comment box, and we will get back to you during normal business hours as quickly as we can.
Frequently Asked Questions About HSAs
Can my business contribute to employee HSAs?
Yes. Employers may contribute any amount up to the annual IRS contribution limits.
Do employees own their HSA?
Yes. Employees own their accounts, and the money remains theirs even if they leave your company.
Does unused money expire?
No. HSA balances roll over from year to year with no "use it or lose it" rule.
What expenses can employees pay with an HSA?
Qualified expenses include deductibles, copays, prescriptions, dental care, vision care, and many other eligible healthcare expenses.
Can State Savings Bank help employees enroll?
Yes. We can assist employees at our branches or visit your business to complete enrollment for multiple employees.
Are HSAs available to self-employed business owners?
Yes. Self-employed individuals who are enrolled in an HSA-eligible high-deductible health plan may also qualify to open an HSA.
