Health Savings Account

 


Health Savings Account

 


When paired with a compatible high deductible health plan (HDHP), the Health Savings Account (HSA) allows individuals or families to save and invest funds for qualified medical expenses on a tax-deferred basis.

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ABOUT HEALTH SAVINGS ACCOUNT


Key Account Features

Income on investment is non-taxable1

 Funds may be used to pay for qualified medical expenses 2

Contributions3 may be made by employers and employees

Contributions may be made through payroll deduction with pre-tax dollars

After-tax contributions such as account transfers or in-branch teller deposits are tax deductible

Funds in the HSA at the end of the calendar year remain in the account and continue to earn tax-free interest

Mutual fund investment option is available when your account reaches a balance of $3,500 4,5,6

 


More Features

Custom checks

 Monthly account statements

Year-end tax reporting: 1099-SA & 5498-SA

Deposit balances are FDIC insured up to $250,0007

 Online Banking

 Up to two Visa check cards8

 

Investment products and services provided by Synovus are offered through Synovus Securities, Inc ("SSI"), Synovus Trust Company, N.A. ("STC"), GLOBALT, a separately identifiable division of STC and Creative Financial Group, a division of SSI. Trust services for Synovus are provided by Synovus Trust Company, N.A. The registered broker-dealer offering brokerage products for Synovus is Synovus Securities, Inc., member FINRA/SIPC. Investment products and services are not FDIC insured, are not deposits of or other obligations of Synovus Bank, are not guaranteed by Synovus Bank and involve investment risk, including possible loss of principal amount invested.

Synovus Securities, Inc. is a subsidiary of Synovus Financial Corp and an affiliate of Synovus Bank and Synovus Trust. Synovus Trust Company, N.A. is a subsidiary of Synovus Bank.

Important account information for Health Savings Accounts

All accounts are subject to approval.

1 Consult your tax professional regarding matters of tax deductability and deferral.

2 Refer to IRS publication 502 for a complete list.

3 Maximum contributions are $3,300 for individuals or $6,550 for families in 2014. HSA account holders can make a one time, tax-free distribution from their Roth or Traditional IRA for the purpose of making a regular HSA contribution. Certain restrictions apply.

4 Investment products and services provided by Synovus are offered through Synovus Securities, Inc, Synovus Trust Company, N.A., GLOBALT Investments and Creative Financial Group. The registered broker-dealer offering brokerage products for Synovus is Synovus Securities, Inc., member FINRA/SIPC. Investment products and services are not FDIC insured, are not deposits of or other obligations of Synovus Bank, are not guaranteed by Synovus Bank and involve investment risk, including possible loss of principal amount invested. Synovus Securities, Inc. is a subsidiary of Synovus Financial Corp and an affiliate of Synovus Bank.

5 An investment option is available for account holders who have balances of $3,500 or more in their existing HSA. If you choose to add the investment option to your HSA, you can choose from nine Fidelity Investments® mutual funds available through Synovus Securities, Inc., our brokerage provider. The minimum initial investment for each fund is $2,500 and subsequent investments must be $100 or more.

6 Please carefully consider the funds’ investment objective, risks, charges and expenses prior to investing. For more information, please thoroughly read the prospectus prior to investing.

7 The standard insurance amount is $250,000 per depositor. Visit www.fdic.gov for more information.

8 Subject to credit approval.