SunTrust Bank
Phone: 1-800.SUNTRUST,877.752.2797,800.786.8787
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Health Savings Accounts
Description
As the cost of healthcare continues to rise, managing medical expenses - both for you and your employees - can be increasingly difficult. A SunTrust Health Savings Account (HSA), when paired with a high-deductible health insurance plan, can help you potentially benefit from tax advantages and save money for out-of-pocket medical expenses.
The SunTrust HSA is a convenient account that lets you and your employees pay for qualified medical expenses or save for future expenses on a tax-free basis. Whether money is needed for current medical bills or expenses down the road, there are many benefits to opening a SunTrust HSA.
The SunTrust HSA is a convenient account that lets you and your employees pay for qualified medical expenses or save for future expenses on a tax-free basis. Whether money is needed for current medical bills or expenses down the road, there are many benefits to opening a SunTrust HSA.
Benefit
No minimum balance requirements
Attractive interest rates and a mutual fund investment option
SunTrust Healthcare Payment Account debit card to pay for medical bills and qualified products and services
Online account access to help you easily manage healthcare spending
Educational Web tools and calculators
Portability to keep your account if you change jobs, health insurance or retire
Exemption from federal (and in many cases, state) taxes for your contributions, investment gains and payments for qualified medical expenses
Opportunity to accumulate savings and interest since unused money in your HSA rolls over each year
Peace of mind having funds set aside for unexpected health costs
Conditions
The SunTrust HSA is a custodial account with SunTrust Bank serving as custodian. ConnectYourCare LLC is the administrator of health savings accounts on behalf of SunTrust. ConnectYourCare is not an affiliate of SunTrust. Banking products, including the Cash Account portion of the HSA, are provided by SunTrust Bank and are FDIC insured, subject to FDIC insurance limits.
Must be enrolled in an eligible high-deductible health plan (HDHP). Check with health insurance provider or tax advisor to determine whether yours qualifies. Must not be covered by any other non-HDHP health plan (with limited exceptions such as vision and dental). Cannot be claimed as a dependent on another individual's tax return or already enrolled in Medicare.
Must be enrolled in an eligible high-deductible health plan (HDHP). Check with health insurance provider or tax advisor to determine whether yours qualifies. Must not be covered by any other non-HDHP health plan (with limited exceptions such as vision and dental). Cannot be claimed as a dependent on another individual's tax return or already enrolled in Medicare.
Supporting Documents
To speak with a SunTrust representative regarding sales, call 866.506.3736
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