No one wants to think about the costs associated with a life-altering injury or medical condition, but you also don’t want to be unprepared – especially if you have a high-deductible health insurance.

Stay prepared with a Health Savings Account

A Health Savings Account with Oostburg State Bank is a tax-deductible, locally serviced solution to keep your healthcare costs affordable.

Our Health Savings Account features:

  • No minimum balance*
  • No monthly or annual service fee**
  • Unlimited transactions
  • Free Debit Card
  • FDIC Insured
  • Tiered tax-free variable interest paid monthly
    • $1,000-$9,999
    • $10,000-$19,999
    • $20,000+

Like all Health Savings Accounts, contributed funds are not subject to federal income tax when deposited, and funds roll-over to the next year if they you don’t spend them. What we offer that other banks can’t is our convenient, local customer service. If you have a question, we’re right here in your neighborhood to help.

Some restrictions do apply, but we’ll walk you through the entire process or you can learn more from the U.S. Department of the Treasury Resource Center.

Is a Health Savings Account from Oostburg State Bank right for you? Contact us today and see.

* $50 deposit is required to open the account
** Health Savings Accounts are subject to a $20 account opening fee, $10 account closing fee, interest will not be paid for the duration of time the account balance is below $1,000.

Current interest rates are available here.

Important Information Regarding Tax Form #5498

It is important that you keep track of the total amount of money you contribute to your HSA each year. This figure is needed for completing your taxes on or before April 15th. In May, the bank will send form #5498 to you and the IRS, stating the total amount you have contributed to your HSA. Why would we send this needed tax information after the April 15th tax deadline? The federal government allows people to make “previous year contributions” and gives them until April 15th of each year to do so. Therefore, we can’t send any #5498 forms until after April 15th. Although very few people make previous year contributions, this is the reason we have to wait until after the tax deadline to send this to the IRS. This puts the responsibility on you to keep track of the amount of your HSA contributions for the year. Your paper statements work fine, however, if you use Online Banking it can do this for you and that figure is just a few clicks away when you need it. While we don’t care for this situation, this is what we are bound to by federal rules and regulations and we wanted you to know about this before opening your HSA account with us. If you would like more information regarding this subject please see your personal tax advisor or visit

Get a Health Savings Account Now

See the difference of banking local with Oostburg State Bank

Why Oostburg State Bank?

Many banks offer Business Checking services, but at Oostburg State Bank we focus on personal service. Included with your Business Checking account, you’ll have access to:

  • Real, local people who can answer your questions
  • Flexible banking solutions right for your business
  • Easy to understand terms and conditions
  • Convenient access to your money where you need it
  • The personalized service you deserve