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Health Savings Account

Manage Your Health Care Spending

What Is an HSA?

A Health Savings Account (HSA) is a special-purpose account used in conjunction with a High Deductible Health Plan. HSAs allow you to pay current and future qualified medical expenses, including retiree health expenses, on a tax-free basis. You own the money in your HSA and you decide how to spend the money without relying on a third party or a health insurer. There are no investment options for our accounts – only interest tiers.

Manage Your Health Care Spending

  • Pay for eligible medical, dental, and vision expenses conveniently with their BMT HSA VISA® Debit Card
  • Make pre-tax contributions1
  • Manage your HSA account with BMT Online or Mobile Banking tools
  • Unused HSA funds rollover from year-to-year and do not affect your contribution limits.
  • It’s your money; you retain control of your HSA funds if you change jobs or retire

At Age 65

  • Contributions stop at age 65 but employees can continue to use the funds for eligible out-of-pocket health expenses. The account can be used to pay Medicare premiums, deductibles, copays, and coinsurance under any part of Medicare. You cannot use the account to purchase a Medicare supplemental insurance or “Medigap” policy.2
  • Once age 65, the account can be used to pay for things other than medical expenses1,2
family at doctor

BMT Health Savings Account (HSA)

  • No application fee
  • No minimum balance requirement; no service charge fee
  • Interest bearing
  • BMT HSA VISA® Debit Card for easy account access
  • Full Mobile and Online Banking
  • Unlimited transactions
  • FREE monthly statements
  • Checks available by request
  • FREE ATM access at any BMT ATM

IRS Contribution Limits2

2021: Individuals: $3,600 | Family: $7,200
Individuals age 55 and over are eligible for an additional “catch-up” contribution of $1,000.

Eligible and Ineligible Expenses

The IRS determines eligible expenses and the list changes occasionally. For the most up-to-date list please visit