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Reduce the pain of medical bills and your tax burden!

A Litchfield Bancorp - A Division of Northwest Community Bank Health Savings Account (HSA) is a convenient solution to lowering your tax bill while taking the sting out of ever rising medical costs and higher deductible health plans.

Speak to an HSA specialist

Sounds great! But am I eligible for an HSA?*

Internal Revenue Service (IRS) regulations govern the circumstances under which you can own a Health Savings Account. You must:

  • Be covered by a high deductible health plan
  • Not be covered by another health plan
  • Not enrolled in Medicare
  • Not be claimed as a dependent on another person’s tax return

Similar to a traditional Individual Retirement Account (IRA), an HSA allows you to make tax deductible contributions that earn interest and grow tax-deferred. At Litchfield Bancorp - A Division of Northwest Community Bank, your HSA is FDIC-insured, has no monthly minimum balance requirement, earns interest, and is check and debit card accessible.

Over time, and quicker than you think, you’ll accumulate enough funds to painlessly cover surprise out-of-pocket costs like coinsurance. You’ll have peace of mind knowing a medical emergency won’t turn into a financial crisis. Plus, unlike a “use it or lose it” Flexible Savings Account (FSA), unused HSA funds roll over year after year.

* To determine your specific eligibility, contact your tax advisor or the IRS.

contact an hsa specialist view our rates

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© 2014-2022 Litchfield Bancorp - A Division of Northwest Community Bank. All rights reserved. Routing Number: 211174204  |  NORTHWEST COMMUNITY BANK NMLS MLO ID: 510148
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