CBTx Health Savings Account
Take control. Start saving now with a CBTx Health Savings Account!
A Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse and your dependents.
- Minimum to open is $50
- Quarterly maintenance fee of $5
- Free CBTx Online Banking
- Free CBTx Debit Card
- Free CBTx Mobile Banking - Text. Web. App.
- Unlimited transactions
- Free eStatements available
- Funds are insured by the FDIC up to the maximum amount permitted by law
- Earn interest if you keep a balance of at least $2,500
You are eligible for a regular HSA contribution if, with respect to any month, you:
- Are covered under a high-deductible health plan (HDHP) on the first day of such month
- Are not also covered by any other health plan that is not an HDHP (with certain exceptions for plans providing preventive care and limited types of permitted insurance and permitted coverage)
- Are not enrolled in Medicare
- Cannot be claimed as a dependent on another individual's tax return
What is an HDHP?
A plan with an annual deductible of no less than the following for the 2017 tax year: $1,300 for Self-Only Coverage and $2,600 for Family Coverage. The HDHP must also limit out-of-pocket expenses to no more than the following for the 2017 tax year: $6,450 for Self-Only Coverage and $12,900 for Family Coverage.
Who Can Contribute to Your HSA?
You, your employer, your family members, and any other person (including non-individuals) may contribute to your HSA.
How Much Can You Contribute?
The 2017 maximum annual contribution amount as stipulated by the Internal Revenue Service is: $3,400 for Self Only and $6,750 for Family.