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Health Savings Account

As the cost of healthcare continues to rise, it is becoming increasingly difficult to manage and pay for medical expenses. However, there is a solution that can help you control your healthcare costs while effectively saving money for retirement.

The SunTrust Health Savings Account (HSA) is a convenient tax-advantaged account that you can use to pay for qualified medical expenses or save for future expenses on a tax-free basis. Whether you're looking to take control of your rising healthcare costs today or save for future expenses, there are a number of benefits to opening a SunTrust HSA:

Portability. The money you contribute to your HSA is completely portable. Even if you change jobs, health insurance plans or retire, the account is always yours.
Tax-Free Growth. Simply put - HSAs are triple tax free. Your contributions, investment gains and distributions for qualified medical expenses are all exempt from federal taxes.
Investment Opportunity. Money in your HSA rolls over each year and earns interest allowing you to develop meaningful savings. Once the balance in your HSA reaches a certain threshold, you are allowed to move funds into a variety of selected mutual funds to further grow your healthcare dollars.

Features and Benefits

FDIC Insured interest-bearing account
Attractive interest rates
Comprehensive monthly statements
Multiple mutual fund investment options
No minimum balance requirement
Free SunTrust Healthcare Payment Account debit card
Online account access to manage healthcare spending
Helpful healthcare educational web tools and calculators
Easy online enrollment

Eligibility Requirements
To be eligible to open an SunTrust HSA:

You must be enrolled in an eligible high deductible health plan (HDHP). Check with your health plan to determine if your plan qualifies.
You must not be covered by any other health plan other than another HDHP (with limited exceptions).
You cannot be claimed as a dependent on another individual's tax return.
You cannot be enrolled in Medicare.