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Health Savings Accounts

talking to a doctor about health savings accounts for your employeesHelp your employees plan for medical expenses with Health Savings Accounts.

Health Savings Accounts (HSAs) were created in 2003 so that individuals covered by high deductible health plans could receive tax-preferred treatment of money saved for medical expenses.

Offering a high deductible health care plan in conjunction with healthy savings accounts for your employees can be a great way to decrease your company’s health care expenses while offering your employees a cost-effective way to plan for their medical expenses.

Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA. The Bank of the James Health Savings Account offers a preferred interest rate, unlimited check writing for a reasonable monthly fee. Please contact one of our business bankers to discuss the Bank of the James Health Savings Account. Accounts subject to credit approval.

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