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Health Savings Account

Create a cost-saving medical plan with our Health Savings Accounts.

A Health Savings Account (HSA) allows individuals to save money tax-free to pay for qualified medical expenses.

HSA owners can contribute money tax-free up to certain maximums per year and may use checks or a debit card to pay for many medical expenses not normally covered by traditional health plans. CNB also offers a premium account with higher interest rates for balances of $5000 or more.
Note: You may not apply for a Premium account online.


Health Savings Account Video

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How does the Account Work?
How is the Account Funded?
Benefits

Apply Now


IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth (for individuals), and other information that will allow us to identify you. We may also ask to see your driver’s license (for individuals) or other identifying documents.

Please supply all of the requested information in our secure application to ensure that the processing time of your application will not be delayed. All applicants must be a U.S. resident and at least 18 years of age.

Before you begin, you will need the following materials:

  • Social Security Number
  • Driver’s License or State ID
  • Income Information
  • Information about your debts and bank accounts

You will need to specify the type of HSA you wish to open, whether individual or family. There are different deductibility requirements for each and also different maximum amounts you may contribute annually. If you are uncertain, please review the IRS information and review your options.

Applications are subject to approval. Such approval may entail the Bank to access your credit bureau report in order to review your credit history as well as your previous banking relationships.

If you prefer to speak to a Customer Service Representative for assistance with the application, please call us at 1-800-262-4663.

Privacy Statement

If you accept and wish to continue with opening your new account, continue below.

How does the Account Work?


Health Savings Accounts (HSAs) combined with high deductible health plans to create a cost-saving medical plan.

HSA owners can contribute money tax-free up to certain maximums per year and are able to use checks or a debit card to pay for many medical expenses not normally covered by traditional health plans.

Employers must offer a high deductible health plan (HDHP) option that is HSA qualified in order for employees to take advantage of this account.

The enrollee in the health plan is the owner of the account. The owner determines when and how funds are deposited. It is his/her responsibility to not exceed the annual limits and also to track the use of the account funds through receipts.

If you’re interested in offering Health Savings Accounts to your employees, our Treasury Management Team can work with you to develop a plan for an on-site presentation and on-going online enrollment. 

How is the Account Funded?


Individual account owners, employers, and family members may contribute funds to the account. Total contributions cannot exceed the annual limits.

  • Contributions can be made in any form.
  • Contributions may be a one-time-only rollover from an existing flexible spending account, a health reimbursement arrangement, or an IRA.

How to access your account:

  • Estatement – sent monthly
  • Debit Card – specific to your HSA account
  • Online and Mobile Banking
  • Online Bill Payment
  • Checks

Benefits


  • Flexibility – An HSA can be used to pay for any qualified medical expense, as defined by the IRS. Items not normally covered by traditional health care plans are often included.
  • Portability – If you decide to leave your current company, the account remains at CNB for your use.
  • Rollover – All funds not used remain in the account and continue to accrue interest annually.
  • Preventative Care – Many preventative care visits, such as annual physicals, mammograms and PSA screenings, will be covered 100%.
  • Tax Advantages* – Employer contributions are generally treated as part of the provided health plan and are excludable from the company’s gross income.

*Consult a tax advisor.


IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth (for individuals), and other information that will allow us to identify you. We may also ask to see your driver’s license (for individuals) or other identifying documents.

Please supply all of the requested information in our secure application to ensure that the processing time of your application will not be delayed. All applicants must be a U.S. resident and at least 18 years of age.

Before you begin, you will need the following materials:

  • Social Security Number
  • Driver’s License or State ID
  • Income Information
  • Information about your debts and bank accounts

You will need to specify the type of HSA you wish to open, whether individual or family. There are different deductibility requirements for each and also different maximum amounts you may contribute annually. If you are uncertain, please review the IRS information and review your options.

Applications are subject to approval. Such approval may entail the Bank to access your credit bureau report in order to review your credit history as well as your previous banking relationships.

If you prefer to speak to a Customer Service Representative for assistance with the application, please call us at 1-800-262-4663.

Privacy Statement

If you accept and wish to continue with opening your new account, continue below.


Health Savings Accounts (HSAs) combined with high deductible health plans to create a cost-saving medical plan.

HSA owners can contribute money tax-free up to certain maximums per year and are able to use checks or a debit card to pay for many medical expenses not normally covered by traditional health plans.

Employers must offer a high deductible health plan (HDHP) option that is HSA qualified in order for employees to take advantage of this account.

The enrollee in the health plan is the owner of the account. The owner determines when and how funds are deposited. It is his/her responsibility to not exceed the annual limits and also to track the use of the account funds through receipts.

If you’re interested in offering Health Savings Accounts to your employees, our Treasury Management Team can work with you to develop a plan for an on-site presentation and on-going online enrollment. 


Individual account owners, employers, and family members may contribute funds to the account. Total contributions cannot exceed the annual limits.

  • Contributions can be made in any form.
  • Contributions may be a one-time-only rollover from an existing flexible spending account, a health reimbursement arrangement, or an IRA.

How to access your account:

  • Estatement – sent monthly
  • Debit Card – specific to your HSA account
  • Online and Mobile Banking
  • Online Bill Payment
  • Checks

  • Flexibility – An HSA can be used to pay for any qualified medical expense, as defined by the IRS. Items not normally covered by traditional health care plans are often included.
  • Portability – If you decide to leave your current company, the account remains at CNB for your use.
  • Rollover – All funds not used remain in the account and continue to accrue interest annually.
  • Preventative Care – Many preventative care visits, such as annual physicals, mammograms and PSA screenings, will be covered 100%.
  • Tax Advantages* – Employer contributions are generally treated as part of the provided health plan and are excludable from the company’s gross income.

*Consult a tax advisor.

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