Health Savings Account

As the cost of healthcare continues to rise, you and your family can be better prepared financially when medical needs arise. With a tax-advantaged HSA from Signature, you can save now for medical costs down the road. It’s a great way to help cover that high deductible on your current healthcare plan. You’ll earn interest and have access to funds to pay eligible expenses, like doctor bills, prescriptions, and more. 

Unlike flexible spending accounts, HSAs generally cover a broader range of qualified medical expenses, and they don’t operate under the “use-it-or-lose-it” rule.

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  • Save for future medical costs
  • Interest earned on daily collected balance and paid monthly
  • Use for approved medical expenses
  • Tax free earnings when IRS requirements are met
  • No minimum balance or monthly service charge
  • Access funds by debit card, check, or online
  • First order of checks free
  • No “use it or lose it” rule
  • Transferrable to next job
  • Free online banking with bill pay
  • Free eStatements
  • Free mobile banking
  • Free Signature FinancialVue online management
  • Free telephone banking
  • High deductible health plan (HDHP) required
  • Opening deposit may be by payroll deposit



Because Health Savings Accounts were created by the tax code, it is the Internal Revenue Service that determines what expenses can be reimbursed and what cannot.  Here are some examples of qualified and nonqualified medical expenses. will provide you with a complete list.

Examples of qualified expenses:

  • Acupuncture
  • Alcohol and drug addiction treatment
  • Breast reconstruction surgery
  • Dental treatment
  • Diagnostic tests and devices
  • Doctor’s visits
  • Prescriptions
  • Eyeglasses, contact lenses and exams
  • Fertility enhancements
  • Hearing aids and batteries
  • Operations/surgery (non-cosmetic)
  • Nursing services
  • Physical therapy
  • Psychiatric care
  • Smoking cessation

Examples of nonqualified expenses:

  • Cosmetic surgery
  • Diaper service
  • Electrolysis or hair removal
  • Funeral expenses
  • Health club dues
  • Illegal operations and treatments
  • Maternity clothes
  • Nutritional supplements
  • Over-the-counter medications for which you do not have a doctor’s prescription
  • Toiletries (toothbrush, toothpaste, etc.)
  • Teeth whitening
  • Weight loss programs (unless prescribed to treat a specific disease)
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