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Learn about a tax-deductible account that is used in conjunction with a HSA Qualified High Deductible Health Insurance Plan (HDHP) for your employees.
The Itasca Bank & Trust Co. Health Savings Account (HSA)* is a tax-deductible account that is used in conjunction with a HSA Qualified High Deductible Health Insurance Plan (HDHP) for your employees. The business must have their business checking account with Itasca Bank & Trust Co. For more information about Employer Health Savings Accounts, contact a Relationship Banker at 630-773-0350. Consult a tax advisor for benefit advantages.
This is an ideal health savings plan for small businesses. Itasca Bank has worked with many local businesses in the Itasca, Roselle, and Medinah communities. Together, we’re offering affordable and effective health care savings solutions.
What is a High Deductible Health Plan that would be eligible for Health Savings Account?
*Each depositor insured to at least $250,000.
Choose from our value-added list of services to create an account that's right for you.
*$2.00 for each external transfer.
**Standard text messaging and data plan rates may apply.
*Standard text messaging and data plan rates may apply.
There is a $10 monthly administration charge for all single relationship accounts; however, if the customer has other relationships with Itasca Bank & Trust Co., the fee will not be assessed.
Subsequent Deposits: We expect most accounts with recurring deposits will be funded via employer payroll deductions. Itasca Bank & Trust Co. offers full direct deposit capabilities, enabling these deposit transactions to be fully automated.
Taxable Withdrawals: Account-holders are required to request non-medical expense-related withdrawals using a special Withdrawal Request Document. As noted in the form, taxable withdrawals may be made either in person at Itasca Bank & Trust Co. or by mailing a completed Withdrawal Request Document to us at:
Health Savings Account Administrator
Itasca Bank & Trust Co.
308 W. Irving Park Rd.
Itasca, Illinois 60143
When sending an email to anyone at Itasca Bank & Trust Co., please do not include passwords, account numbers, or any other confidential financial or personal information.
For questions, additional information, or to open an HSA, contact one of our Relationship Bankers at 630-773-0350.