Health Savings Account

Open a Health Savings Account (HSA) and set aside money to help pay for qualified medical expenses.footnote

Ready to apply? Questions?

Visit a Branch

Call us at 1.888.i bank mb  (1.888.422.6562) or contact us.

Perfect for

Those who have a high-deductible health plan (HDHP) and want to be prepared for medical expenses.

Benefits

  • Works the same as a checking account, including a checkbook, debit card, online access, and more
  • Contributions, even when made by a family member, are deductible on your tax return
  • Any amount not used for qualified medical expenses will grow tax-free and may be carried over for use in the future. Funds not used for qualified expenses can remain in the account until retirement.
  • Accounts are portable. You can keep your HSA even if you change jobs, switch your medical coverage or become unemployed.
  • Pre-tax contributions made by the employer are tax deductible for the employer

Features

Interest rates

No minimum balance to open, monthly compounding

Interest rates
Balance Interest rate* APY*
Below $2,500 0.030% 0.03%
$2,500 - $24,999.99 0.030% 0.03%
$25,000 and over 0.030% 0.03%

* Annual Percentage Yields (APY) are current as of 04/18/2014

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Things to know

There are up to 10 free debit transactionsfootnote per statement cycle for this account. There is a $10 fee each month when more than 10 debit transactions occur during the statement cycle.

  • Minimum to open is $50
  • Customers need to be covered by a high-deductible health plan (HDHP) as verified by the customer’s current insurance provider
  • Customers may not be enrolled in Medicare
  • Customers may not be covered by any other non-HDHP health plan
  • Customers may not be eligible to be claimed as dependent on another individual’s federal income tax return

Exceptions apply. Refer questions to your insurance provider.

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This product could be right for you if

You have an HDHP and would like to save for medical expenses.

Apply in Person

Stop by one of our convenient banking centers located throughout Chicagoland and we’ll be happy to help you open your new MB account. Be sure to bring a government-issued ID and your Social Security number.

What's next?

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Call us at 1.888.i bank mb (1.888.422.6562) or contact us.

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1 Variable rate account. Rate subject to change at any time without notice. Fees may reduce earnings. Please refer to the Personal Banking Customer Fee Schedule (PDF). Contribution limits apply. Back to top

2 MB Debit MasterCard® available only to qualified account holders. Back to top

3 Debit transactions include: Online bill pay, ACH debits, PIN and signature based debits, and checks presented for payment. Back to top