Health Savings Account

The secret to longevity is staying in good health. A health savings account offers tax-advantages* by allowing pre-tax dollars to pay for qualified medical expenses.

In order to sign up, you must be enrolled in a high deductible healthcare plan. Talk to a Flanagan State Bank representative about opening an account — they’ll be happy to answer any questions you may have.


  • Plan that uses pre-tax* dollars to pay for qualified medical expenses
  • Earn competitive interest, like regular savings, to grow funds quickly
  • Interest compounded monthly
  • Account is owned by you, not your employer
  • Money rolls over year-to-year (no “use it or lose it” policy)
  • No monthly service charge
  • No minimum balance requirements
  • Free online banking & bill pay, plus mobile banking
  • Free Visa® debit card to access HSA funds
  • Free monthly bank statement with check images, or choose free e-statements


  • $25.00 minimum opening deposit
  • Must be enrolled in a high deductible healthcare plan (HDHP), not enrolled in Medicare, not able to be claimed as a dependent on another person’s tax return
  • In addition to the $25.00 opening deposit, a $20.00 set up fee must be paid at account opening

*Consult your tax adviser. Visa is a registered trademark of Visa International Service Association.