Saving made simple. We have accounts that can help!

Health Savings Accounts (HSA)

Tax-advantaged IRAs and HSAs provide significant benefits now … and in the future.
Save for health-related expenses … and more … with a tax-advantaged HSA account.
If you have a high deductible health plan (HDHP), you may be eligible for an HSA and valuable benefits.

Top ten reasons to start and HSA
1. Tax free distributions (if qualified)
2. Tax-deferred earnings
3. Tax deduction
4. Balance carried over from year to year
5. Accessibility to HSA assets
6  Yours wherever you go
7. Control of contributions and investments
8. Additional sources of retirement income
9. Lower insurance premiums on HDHP
10. Easy to use
HSA balances carry over each year and remain with you regardless of your employment status or healthcare coverage in the future. Use your HSA for qualified medical expenses, at any age. This generally includes most medical, dental and vision care expenses. Some health insurance premiums may also be considered eligible expenses.

HSAs are not ONLY for medical expenses. If you don’t use your HSA funds for medical expenses, you can withdraw them after age 65 and use them for ANY purpose, subject to your tax rate at that time. Withdrawals for non-medical expenses prior to age 65 are subject to an additional 20% IRS penalty tax, except for death or disability. 

Contribution limits are determined by the IRS and subject to change each year. Check with your health insurance provider and/or tax advisor for eligibility requirements and details. 
A Star Bank HSA expert is ready to help you get started today. Call or visit your local branch.

Individual Retirement Accounts (IRAs)

Save for your retirement with an IRA at Star Bank!

Top ten reasons to start an IRA
1. Money saving strategy
2. Tax deductions
3. Tax deferral
4. Less temptation to "rob the piggy bank" with early withdrawal fees
5. Investment flexibility
6.  Investment control
7. Roll your money over without tax consequences
8. Gain protection
9. It's simple to open
10. It's fun to watch your money grow
How much money will you need when you retire?
An IRA is a powerful tool to help you build your cash reserves for retirement, while offering many tax advantages along the way. Enjoy the benefits of compounding interest as your IRA grows, and delay or even eliminate paying taxes on your earnings, depending on the type of IRA you choose.

There are several types of IRAs. Please consult your tax advisor for the IRA that fits your financial situation.
Star Bank offers a variety of IRAs:
SEP (Simplified Employee Pension)
We also accept IRA Transfers, Rollovers, and Direct Rollovers from your 401k.
Consolidate your retirement assets at Star Bank and enjoy the convenience of having your assets in one location. 

Star Bank is pleased to provide these tax-advantaged financial solutions – HSAs and IRAs - to meet our customers’ needs. Consult with one of our bankers for more details and your tax adviser to confirm your eligibility.
Establish IRAs and HSAs, today. Reduce your taxes and gain peace-of-mind.