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Health Savings Account
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If you are enrolled in a qualified High Deductible Health Plan, a Sovereign Health Savings Account (HSA) provides a tax-advantaged way to save for qualified medical expenses.
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Current HSA Deposit Account Interest Rates*
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Account Balance
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Interest Rate
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APY
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$0-$4,999.99
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0.25%
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0.25%
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$5,000-$9,999.99
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0.50%
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0.50%
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$10,000+
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0.75%
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0.75%
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Note: Pricing and rates are for individual HSAs only. For information on employer-sponsored programs, speak with your HR representative or your insurance broker.
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Learn more about FDIC Insurance
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More Safety — More Security
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At our discretion, the interest rate and annual percentage yield may change daily after the account has been opened. Rates effective as of 4/01/09. Fees could reduce earnings.
IRS rules require that adequate documentation be retained to establish qualified medical expenses.
Terms and conditions of the HSA are included in the HSA Custodial Agreement. Please contact an HSA Service Representative at
1-877-HSA-7800 (472-7800) for additional information.
Sovereign Bank deposit balances that are held in the HSA are FDIC insured, subject to FDIC insurance limits. Non-deposit investment products, such as mutual funds, that may be held in the HSA are:
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ARE NOT FDIC INSURED
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ARE NOT BANK ISSUED OR GUARANTEED
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MAY LOSE VALUE
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Sovereign Bank is not a registered investment adviser and is not acting in the capacity of an investment adviser. Sovereign Bank does not provide legal, tax, or investment advice to HSA Account Holders. Contact a qualified accountant, attorney or investment adviser to address these questions. Participation in the investment program is voluntary. Sovereign Bank makes no representations with respect to the mutual funds or portfolio allocation models offered.
Before investing please consider the investment objectives, risks, charges and expenses of the mutual funds carefully. For more complete information, please consult the prospectuses for each mutual fund which can be found on the Sovereign HSA web site. Read these documents carefully before investing. Past performance does not guarantee future results.
This information is not intended as legal or tax advice. Accordingly, any tax information provided in this communication is not intended or written to be used, and cannot be used, or relied upon, by any taxpayer for the purpose of filing taxes or avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the matter(s) addressed, and you should seek advice based on your particular circumstances from an independent legal or tax advisor. |
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