Bank of America offers several convenient products and services to customers, including health
savings accounts (HSAs). These accounts can provide access to affordable healthcare and help you save for future medical expenses, all while earning interest. If you’re considering opening an HSA with Bank of America, here are five reasons why you should do so.
1) Save up to $500 on your out-of-pocket medical expenses
A Bank of America Health Savings Account (HSA) can help you save money on your out-of-pocket medical expenses. With an HSA, you can set aside up to $500 per year to use for eligible medical expenses. Plus, the money in your HSA grows tax-free, and you can use it to pay for eligible medical expenses even if you leave your job.
2) Funds are FDIC insured up to $250,000
Your money is safe with a Bank of America HSA. The Federal Deposit Insurance Corporation (FDIC) protects your money up to $250,000. So you can rest assured knowing your money is in good hands.
3) There are no fees for using the account
There are no fees for using the account, which is great news for those who are looking to save on their healthcare costs. Plus, the account comes with a debit card that can be used to pay for medical expenses. Additionally, there is no minimum balance required and you can earn interest on your account balance. Lastly, you can use the account to pay for qualified medical expenses tax-free.
4) Earn interest on funds you’ve deposited into the account
When you have a Bank of America Health Savings Account, you can earn interest on the funds that you’ve deposited into the account. This is a great way to grow your money while also taking care of your health. Plus, with an HSA, you can use the money tax-free for qualified medical expenses.
5) Additional benefits when you open an Online Banking relationship with us
1. You can manage your account anytime, anywhere with our easy-to-use online tools.
2. You’ll enjoy the convenience of having all your financial needs in one place.
3. You’ll have peace of mind knowing your money is FDIC insured.
4. You can take advantage of our many other products and services designed to help you save money and reach your financial goals.
5. You’ll receive superior customer service from our team of banking experts.