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Health Savings Accounts in Rhode Island

Compare rates on health savings accounts in Rhode Island. We check both the national banks and local banks in Rhode Island every day to provide you with the most current savings account rates available in your area. If there is a local bank you would like to see listed here, let us know and we'll do our best to add it.

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Deposit Amount | $1 $100,000
Currently Including:
34
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Results

Lake Michigan Credit UnionHealth Savings Account36 Reviews2.00%$5k-$200
DETAILS
Connexus Credit UnionHealth Savings Account14 Reviews1.50%$5k-$150
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Pacific Community Credit UnionHealth Savings Account1 Review1.00%--$100
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The Adirondack Trust CompanyHealth Savings Account4 Reviews1.00%--$100
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Eli Lilly Credit UnionHealth Savings Account (HSA) Checking1.00%--$100
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First Technology Federal Credit UnionHSA Checking10 Reviews1.00%--$100
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Incredible BankIncredible HSA19 Reviews1.00%$10k-$100
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Alliant Credit UnionHealth Savings Account13 Reviews0.65%--$65.00
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Pen Air Credit UnionHealth Savings Account (HSA)2 Reviews0.50%--$50.00
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Affinity Credit UnionHealth Savings Account5 Reviews0.45%--$45.00
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State Farm BankHealth Savings Account16 Reviews0.40%$10k-$40.00
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NASA Federal Credit Union12 Month Health Savings Certificate2 Reviews0.35%$2k-$35.10
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Ouachita Independent BankOIB Health Savings Account3 Reviews0.35%$10k-$35.00
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America's Credit Union Health Savings0.30%$50-$30.00
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National Bank of Kansas CityHealth Savings Account0.30%--$30.00
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Patelco Credit UnionHealth Savings Account5 Reviews0.25%$3,500-$25.00
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Xceed Financial Credit UnionHealth Savings Account9 Reviews0.25%--$25.00
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Air Force Federal Credit UnionHSA Share Draft0.25%--$25.00
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Heritage BankHealth Savings Account0.20%$10k-$20.00
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Newtown Savings BankHealth Savings Account0.20%$5k-$20.00
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Astera Credit UnionHealth Savings Account2 Reviews0.20%--$20.00
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The Jacksonville BankHealth Savings Account1 Review0.15%$10k-$15.00
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City National BankHealth Savings Account4 Reviews0.15%$50-$15.00
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Digital Credit UnionHSA Checking Account8 Reviews0.15%$10k-$15.00
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First National Community Bank (PA)Health Savings Account1 Review0.10%$10k-$10.00
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American BankHealth Savings Account 3 Reviews0.10%--$10.00
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Dime BankHealth Savings Account (HSA)0.10%--$10.00
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First National Bank (LA)HSA Account3 Reviews0.10%$1k-$10.00
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Geauga Savings BankHSA Serious Savers1 Review0.10%--$10.00
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Capital Educators Federal Credit UnionMedical Savings0.10%--$10.00
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Univest Bank and Trust Co.Health Savings Account1 Review0.05%--$5.00
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Great Lakes Credit UnionHealth Savings Account6 Reviews0.05%$100-$5.00
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USAlliance Credit UnionHealth Savings Account0.05%$2k-$5.00
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INOVA Federal Credit UnionHealth Savings Account17 Reviews0.01%--$1.00
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Displaying 1-40 of 34 Results



Health Savings Accounts Trend

Health Savings Accounts

A health savings account (HSA) gives eligible individuals and families the opportunity to make tax-deductible contributions to savings at compounding interest rates while also reserving them the ability to pay for qualifying medical costs tax-free. All health savings accounts come with IRS-enforced eligibility requirements that include being covered by a high deductible health care plan (HDHP), not being enrolled in Medicare, and not being claimed as a dependent on someone else’s tax return.

Benefits of a Health Savings Account

For individuals and families who are unable to obtain health insurance plans with low deductibles, an HSA could be a helpful way to cover the increased out-of-pocket expenses (potentially) created by higher deductibles. Opening a health savings account could be a great financial planning strategy, as well. Because high-deductible health care plans usually come with the lowest monthly premiums available, you could save a sizable amount in premium costs each month and add them to your HSA.

HSA Tax Implications

As far as the tax implications go, every contribution you make to a health savings account (HSA limits allow up to $3,275 for an individual and $6,550 for a family in 2014) may be deducted from adjusted gross income on your tax return. Any contributions withdrawn before the age of 65, and for non-qualifying reasons, are taxable and must be reported as income. Also, any contributions made to the account in excess of the maximum amounts noted above cannot be deducted and will be included to gross income. Earnings from interest that accumulate on the funds in a health savings account are taxed-deferred and thus not included in gross income (unless used for non-medical, and thus non-qualifying, purposes).

Employer Health Plans

Many employers offer several health care options to their employees as a part of benefit packages. Some offer a high deductible health plan and include an offer to pay into a separate health savings account owned by the individual employee. A lot of employers are reluctant to do this, however, as the employee is able to take all contributions with them if they were to leave the company. Instead, employers offering a high deductible health plan option will contribute some amount into a health reimbursement account, which enables them to hang on to any contributions not used by the employee at the time he or she leaves the company.