HSA is short for a Health Savings Account. An HSA is essentially a bank account that can be used for medical expenses. Any deposits made into your HSA account are NOT taxed, so they can be a helpful tool in budgeting for medical expenses over the course of a year.
HSA funds roll over and accumulate year to year if they are not spent. They are checking accounts owned and controlled by YOU, opened at the bank of your choice.
Our primary bank Alerus Financial can set you up with a personal HSA account if you are interested in opening one. Please call 1-800-433-1685 or visit the Alerus Financial website for more information. You can also visit the Arden Hills location at the address below.
Alerus Financial – Arden Hills
2 Pine Tree Dr #400
Arden Hills, MN 55112
Be aware, there is a usually a monthly service fee for an HSA account.