Castle Health Savings

What if instead of surrendering income to health insurance premiums every month, money set aside for your health care belonged to you? That's how it works with a Health Savings Account from Castle Bank. Individuals covered under a high-deductible health plan deposit pre-tax money into a Health Savings Account, and use it to pay qualified medical expenses, tax-free.

Account Features:

  • No Set-up Fee
  • No minimum daily balance
  • Monthly maintenance fee of $3.00
  • Free bank logo checks

HSA Distributions:
Qualified Medical Expenses are medical expenses that are:

  • Incurred on behalf of the HSA owner, spouse or dependents
  • Incurred after an HSA has been established
  • Not covered by insurance
  • Paid by the HSA owner, spouse or dependent

If a distribution is not used for Qualified Medical Expenses:

  • The distribution amount will be included in income
  • A 20% penalty will be assessed; this penalty will be waived upon death, disability or attaining age 65

Account Requirements:

  • Covered by a High Deductible Health Plan (HDHP), which satisfies both annual deductible and an out-of pocket expense requirement
  • Generally not covered by any health plan that is not a HDHP
  • Not enrolled in Medicare
  • Not eligible to be claimed as a dependent on another person's income tax return

View Deposit Agreement

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Castle Relationship Health Savings

No monthly maintenance fee for customers with a Castle Bank consumer checking account.

Health Savings Visa® Debit Card

Give your Health Savings account purchasing power with a Castle Bank Visa Debit Card.* Just present your card at the merchant and sign your receipt - its that easy. The amount of your qualifying medical purchase is automatically deducted from your Castle Bank Health Savings Account.

Account Features:

  • No monthly service fee
  • Make up to $5,000 in purchases per day (provided adequate funds are available)
  • Make up to $1,000 in cash withdrawals per day from any NETS or PLUS System ATMs (provided adequate funds are available)**
  • No transactions fees
  • Visa's Zero Liability*** when you use your Visa Debit Card to make purchases
  • Access to any NETS or PLUS System ATMs worldwide

To receive a Visa Debit Card you'll need a Castle Bank Health Savings Account. If you already have an account and would like to receive a Visa Debit Card, please contact a Personal Banker.

Related Product and Services:

  • Visa's Zero Liability***
  • Health Savings Account
  • Relationship Health Savings Account

* Available on Castle Bank checking accounts only. Subject to qualifications.

** A surcharge may be assessed by the financial institution that owns the ATM.

*** Visa's Zero Liability policy covers U.S. issued cards only and does not apply to PIN transactions not processed by Visa or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit

Contribution limits for a Castle Health Savings
Calendar Year 2017 Calendar Year 2018
Self Only Family Self Only Family
Annual HSA Contribution $3,400 $6,750 $3,450 $6,900
HDHP Minimum Deductible $1,300 $2,600 $1,350 $2,700
HDHP Out-Of-Pocket Limit (includes deductibles, co-payments, and other amounts but not premiums) $6,550 $13,100 $6,650 $13,300
Catch Up Contribution Limits (available to customers 55 years old and above) $1,000 $1,000

† Consult your tax advisor regarding the tax advantages of a Health Savings Account.