Health Savings Account (HSA)

The Health Savings Account works in tandem with your employer’s High Deductible Health Plan to help save for qualified medical expenses 

For those who have High Deductible Health Plan (HDHP)

  • Works the same as a checking account, including a checkbook, debit card2, online access, and earns interest
  • Contributions, even when made by a family member, may be deductible when filing your federal income taxes.
  • No monthly service charge
  • Any amount not used for qualified medical expenses will grow tax-free and may be carried over for use in the future
  • Your employer may offer pre-tax contributions 

Things to know about the MB Health Savings Account

  • Minimum to open is $50
  • A $10 monthly service charge applies when more than 10 debit3 transactions occur during the statement cycle
  • Customers need to be covered by a high-deductible health plan (HDHP)
  • 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 a dependent on another individual’s federal income tax return

Exceptions may apply. Refer questions to your insurance provider or visit healthcare.gov.

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 08/04/2017

  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.  This information is not intended to be legal, investment or tax advice and should not be relied upon. MB Financial Bank, N.A. and its affiliates do not provide legal or tax advice. You should review your particular circumstances with your legal and tax advisors. 
  2. MB Debit MasterCard® available only to qualified account holders. 
  3. Debit transactions include: Online bill pay, ACH debits, PIN and signature based debit card transactions, and checks presented for payment