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Health Savings Accounts

Benefits made easier

Health Savings Account

We're here to simplify saving for healthcare.  

Plan ahead to cover unexpected medical expenses or strategize to offset a high annual deductible with our Health Savings Account (HSA). The money you contribute to your account belongs to you immediately.

Your Choice

You decide when and how to spend on qualified medical expenses

Tax Advantages

Fund your account through tax-deductible contributions

No "Use It or Lose It" Condition

Don't stress about spending it all in a year

Benefits & Features
  • All eligible contributions are made to your HSA with pre-tax dollars, reducing your taxable income.
  • No service charges or monthly fees.
  • Set up payroll deductions or scheduled contributions.
  • Use your HSA debit card to pay for qualified healthcare expenses.
  • Convenient access to your HSA through online and mobile banking.
Contribution and Out-of-Pocket Limits for Health Savings Accounts and High-Deductible Health Plans

2022 2023
HSA contribution limit
(employer + employee)
Self-only: $3,650

Family: $7,300
Self-only: $3,850

Family: $7,750
HSA catch-up contributions
(age 55 or older)
$1,000 $1,000
HDHP minimum deductibles Self-only: $1,400

Family: $2,800
Self-only: $1,500

Family: $3,000
HDHP maximum out-of-pocket amounts
(deductibles, co-payments and other amounts, but not premiums)
Self-only: $7,050

Family: $14,100
Self-only: $7,500

Family: $15,000


You can contribute with one-time or recurring transfers from your checking account, roll funds over from another HSA, or even better, set up a payroll deduction option which lets you make pre-tax deductions on a regular basis.
The maximum amount that can be contributed to an HSA varies from year-to-year and depends on self-only coverage or family coverage. Once you reach age 55, you are entitled to make additional annual "catch-up" contributions.


You can open an HSA if:
  • You have a qualified high-deductible health plan (HDHP).
  • You don't have any other health plan that is not an HDHP (there are exceptions for certain plans that provide specified kinds of coverage such as dental or vision care).
  • You're not enrolled in Medicare or other federal or state benefits.
  • You cannot be claimed as a dependent on another person's tax return.

Customer Testimonials

Better Benefits for Your Business

Need a plan for employees to pay for healthcare expenses? Our HSA is a great option. Get in touch today to learn more.

Important: Camden National Bank does not provide tax advice. Please consult your tax advisor to determine eligibility for this account and any tax implications it may have.